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Vardhman Special Steels Invests ₹3.8 Crore in Sone Solar Private Limited
Team Finance Saathi
31/Jan/2025
What's covered under the Article:
- Vardhman Special Steels' investment in Sone Solar Private Limited grows by ₹3.80 Crores.
- The investment maintains Vardhman's 26% equity stake in Sone Solar.
- The latest investment was made in the form of compulsory convertible debentures.
In an update filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Vardhman Special Steels Limited has announced a significant investment in Sone Solar Private Limited. This marks the second tranche of payment in an ongoing investment initiative, originally disclosed on May 21, 2024.
The company has invested ₹3.80 Crores on January 31, 2025, towards the balance payment for the first tranche. This amount consists of the purchase of 38,00,016 0.5% Compulsory Convertible Debentures (CCDs), each with a face value of ₹10/-. With this investment, Vardhman Special Steels continues its commitment to the renewable energy sector.
Key Details of the Investment:
- Investment Amount: ₹3.80 Crores in Sone Solar Private Limited, made through 0.5% Compulsory Convertible Debentures of face value ₹10 each.
- Previous Investment: This is part of a total investment of ₹87.49 Lakhs made earlier, which was allocated to Compulsory Convertible Debentures (Rs. 84.05 Lakhs) and equity shares (Rs. 3.44 Lakhs).
- Shareholding: Following this investment, Vardhman Special Steels retains a 26% stake in Sone Solar's equity capital.
The latest investment underlines Vardhman Special Steels' continued confidence in the solar energy and renewable energy sectors, marking the company’s dedication to sustainable and future-focused investments.
This investment in Sone Solar aligns with the growing demand for solar energy solutions in India and global sustainability goals, where Vardhman is positioning itself as a key player.
Regulatory and Compliance Information:
This investment update has been disclosed as per SEBI guidelines to ensure transparency in line with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company continues to prioritize compliance and effective disclosure to its stakeholders.
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