Latest news with #Servotech
Hans India
17 hours ago
- Business
- Hans India
Servotech to Set Up India's Largest EV Charging Station at Bengaluru Airport
Servotech Renewable got a big order from Bengaluru Airport to set up an electric vehicle (EV) charging station. The station will have 10 fast chargers, the biggest at any Indian airport. It will charge electric buses that move passengers around the airport. This will help cut pollution and make the airport cleaner. Servotech will install, test, and maintain the chargers for five years. Sarika Bhatia from Servotech said this project is important for making airport transport greener. The company plans to do more projects like this to help India use clean energy.
Hans India
4 days ago
- Business
- Hans India
Servotech Renewable in focus on Monday as Coeus Fund converts warrants
Shares of Servotech Renewable Power System are expected to remain in the spotlight on Monday following a major equity allotment and expansion of its EV charging infrastructure portfolio. The renewable energy firm has converted 10 lakh warrants into equity shares, issued to Coeus Global Opportunities Fund, further strengthening investor confidence. The company allotted the shares at ₹83.40 per share (₹1 face value + ₹82.40 premium), receiving ₹6.25 crore or 75% of the issue price as upfront payment. This allotment is part of a larger preferential issue of 89 lakh warrants announced in January 2024. With this move, Coeus Global Opportunities Fund doubled its stake in Servotech from 0.44% to 0.88%, now holding 20 lakh shares. Consequently, the company's paid-up capital increased from ₹22.48 crore to ₹22.58 crore. Green Energy and EV Infra Drive Growth Servotech's growth isn't limited to capital infusion. Its subsidiary, Incharz (Servotech EV Infra), recently signed an MoU with Noida Power Company Ltd (NPCL) — a joint venture between the RP-Sanjiv Goenka Group and Greater Noida Industrial Development Authority. The deal aims to boost EV charging infrastructure across Greater Noida, targeting corporate campuses, housing societies, commercial spaces, and hospitals. NPCL will assist by recommending strategic locations and liaising with power distribution companies to accelerate setup and reduce costs. Incharz has already installed EV chargers at two residential complexes as part of the initiative. Stock Performance Servotech Renewable has been on a steady upward trajectory: +21% in the past month +19% over the last three months +67% in one year Massive 2,300% gain over three years, making it a multibagger in the smallcap space Despite closing slightly lower at ₹147.50 on Friday (down 0.04%) on the NSE, the stock's fundamentals and long-term prospects remain strong due to its active role in India's green energy transition. Investor Note With increased institutional interest and a strong pipeline in EV infrastructure, Servotech Renewable Power System is likely to draw heightened attention in the coming trading sessions.
Mint
21-06-2025
- Business
- Mint
Solar stock to be in focus on Monday after THIS acquisition update. Details here
Servotech Renewable Power System share price will be in focus on Monday after the company announced the acquisition of 27% stake in PV Module manufacturer Rhine Solar Ltd for ₹ 12.15 crore, to strengthen its backward integration capabilities. Solar solutions and EV charger manufacturer Servotech Renewable Power System said that it has officially entered into a definitive agreement to acquire a 27% stake (post-money valuation) in New Delhi-based Rhine Solar. Servotech will acquire 9,50,106 equity shares of Rhine Solar, constituting a 27% stake in the company, at ₹ 127.88 per share, aggregating to ₹ 12,14,99,555.28. Rhine Solar deals in Solar Panels, Solar Lamps, Solar Lights, Solar Cooker, solar home light, solar street light, solar geyser, solar water irrigation system throughout India. The company reported a turnover of ₹ 82.41 crore in FY25, and ₹ 60.01 crore in FY24. The indicative time period for completion of the acquisition is 90 days. This crucial investment propels Servotech directly into the heart of the PV module manufacturing industry, Servotech Renewable Power System said. Currently, Rhine Solar boasts the manufacturing capacity of 100 MW, and the plan is to significantly escalate this capacity, aiming for an impressive 600 MW by next year, it added. 'This acquisition is a major leap forward for us as we move toward becoming a fully integrated solar solutions provider. We've now officially stepped into PV module manufacturing, and this is only the beginning. A key focus will be on producing advanced N-type TOPCon 12 busbar panels, which are not only more efficient but also in high demand in both domestic and global markets due to their superior performance and durability,' said Raman Bhatia, Managing Director of Servotech Renewable Power System. Servotech Renewable share price has gained 9% in one month, but the solar stock has fallen 18% in the past six months. The small-cap stock is down 17% on a year-to-date (YTD) basis, and has risen 62% in one year period. On Friday, Servotech Renewable share price ended 3.23% higher at ₹ 138.79 apiece on the NSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Upturn
20-06-2025
- Business
- Business Upturn
Servotech acquires 27% stake in Rhine Solar for Rs 12.15 crore to strengthen backward integration
By Aditya Bhagchandani Published on June 20, 2025, 16:33 IST Servotech Renewable Power System Limited has announced the acquisition of a 27% stake in Rhine Solar Limited for Rs 12.15 crore in an all-cash deal. The strategic investment, approved at the board meeting held on June 20, 2025, aims to boost Servotech's backward integration capabilities in the solar segment. The acquisition involves the purchase of 9,50,106 equity shares at Rs 127.88 per share, valuing Rhine Solar at a post-money basis. The deal is expected to close within 90 days. Rhine Solar, incorporated in December 2014, is engaged in manufacturing and distribution of a wide range of solar products such as panels, lamps, cookers, geysers, and irrigation systems across India. The company reported a provisional turnover of Rs 82.41 crore for FY25, up from Rs 60 crore in FY24 and Rs 53.9 crore in FY23. Servotech clarified that the transaction does not fall under related-party transactions and no regulatory approvals are required. This move is expected to enhance the company's supply chain efficiency and solidify its position in the renewable energy sector. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
India Gazette
06-06-2025
- Automotive
- India Gazette
Elon Musk's father, Errol concludes 6-day India visit; praises green tech leap and cultural depth
New Delhi [India] June 6 (ANI): Father of Tesla CEO Elon Musk and Servotec's Errol Musk concluded a highly productive and culturally enriching 6-day trip to India on Friday. Accompanied by his daughter, Alexandra Musk, the visit, which began on June 1, significantly underscored India's pivotal role in the global green technology and electric vehicle (EV) charging infrastructure revolution. Hosted by Servotech Renewable, Musk's itinerary was packed with engagements designed to accelerate India's sustainable development. His journey included headlining the India Global Green Tech Vision Forum in New Delhi, where he shared his global insights on green technology. He also toured Servotech's state-of-the-art manufacturing plant, gaining firsthand insight into India's indigenous capabilities in EV chargers and solar solutions. A unique aspect of his visit involved profound spiritual and cultural immersion. Musk engaged in sacred visits to the Ram Mandir and Hanuman Garhi Temple in Ayodhya and ISKCON Delhi. At ISKCON, he actively participated in a Tulsi plantation drive, performed aarti, and reverently partook of the 'Chappan Bhog' prasad, highlighting the deep connection between sustainability and Indian traditions. During his spiritual interactions, he openly praised the timeless teachings of the Bhagavad Gita. Reflecting on his journey, Errol Musk stated, 'This trip has been truly eye-opening, witnessing India's dynamic progress in green tech and its rich cultural depth. I leave incredibly optimistic about India's future and its role on the global stage, and I look forward to returning soon to explore more of India's beautiful places.' Servotech Renewable Power System Ltd, Managing Director, Raman Bhatia expressed, 'Hosting Errol Musk has been an immense privilege and a pivotal moment for Servotech and India's green energy sector. His strategic insights and personal embrace of India's cultural values have been incredibly validating, further solidifying our commitment to accelerating India's journey towards a cleaner, more sustainable, and self-reliant future.' Musk's departure marks the culmination of a visit that has not only strengthened Servotech's global partnerships but also vividly amplified India's narrative as a burgeoning leader in both sustainable innovation and spiritual harmony. (ANI)
