Australian Premium Solar (India) Limited at its meeting of Board of Directors held on March 7, 2024 approved to incorporate a new company as wholly owned subsidiary of the' Company in the name and style of name as decided by board or such other name as may be approved by the office of Central Registration Centre of Ministry of Corporate Affairs. Industry to which the entity being acquired belongs: Solar industry. Objects and effects of acquisition: To support existing business of the parent company.

The incorporation will be completed within two- three months of the date of acquisition. The shares will subscribe in cash. It is proposed to subscribe to 100,000 equity shares of INR 10/- each at the time of incorporation.

Subsequently further capital will be increased on a need basis.