Chetan Sureshchandra, Paulomi Chetan, Sapna Vipul, Shakuntala Mulchand, Satyanarayan Unkarchand, Anil Rathi, Shivprakash Unkarchand, Pukhraj Agrawal, Bhavana Agrawal, Piyush Chandak, Kailashchandra Bansilal, Kavita Kailashchandra, Kavita Piyush Chandak, Krishna Patodia, Arunkumar Kashiramji, Sunita Arunkumar and Narayan Arun made an offer to acquire 26% stake in Solex Energy Limited for INR 72..8 million.
March 16, 2021
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Chetan Sureshchandra Shah, Paulomi Chetan Shah, Sapna Vipul Shah, Shakuntala Mulchand Shah, Satyanarayan Unkarchand Rathi, Anil Rathi, Shivprakash Unkarchand Rathi, Pukhraj Agrawal, Bhavana Agrawal, Piyush Chandak, Kailashchandra Bansilal Chandak, Kavita Kailashchandra Chandak, Kavita Piyush Chandak, Krishna Patodia, Arunkumar Kashiramji Patodia, Sunita Arunkumar Patodia and Narayan Arun Patodia made an offer to acquire 26% stake in Solex Energy Limited (NSEI:SOLEX) for INR 72..8 million on March 17, 2021. As per the transaction, buyers will acquire 2.08 million shares for INR 35 per share. The transaction is subject to statutory approval. In a related transaction, Chetan Sureshchandra Shah, Paulomi Chetan Shah, Sapna Vipul Shah, Shakuntala Mulchand Shah, Satyanarayan Unkarchand Rathi, Anil Rathi, Shivprakash Unkarchand Rathi, Pukhraj Agrawal, Bhavana Agrawal, Piyush Chandak, Kailashchandra Bansilal Chandak, Kavita Kailashchandra Chandak, Kavita Piyush Chandak, Krishna Patodia, Arunkumar Kashiramji Patodia, Sunita Arunkumar Patodia and Narayan Arun Patodia entered into an agreement to acquire 23.5% stake of Solex Energy Limited for INR 54.6 million on March 17, 2021. As of May 5, 2021, Committee of Independent Directors approved the transaction. Offer period will run from May 7, 2021, to May 21, 2021. Sarthak Vijlani of Navigant Corporate Advisors Limited acted as manager to the offerors.
Solex Energy Limited is an India-based company, which is engaged in manufacturing of solar photovoltaic modules. The Company offers a diverse product range including Monofacial and Bi-facial modules across various power capacities. It is focused on manufacturing of solar photovoltaic modules along with providing turnkey solar solutions across different segments, such as solar power plants, solar water pumps, and utility scale ground mounted solar power plants. The Companyâs solutions include Solar Residential Rooftop, Solar Industrial Rooftop, Solar Power Plant, Solar Water Pump, Solar Charging Stations, and Solar Car Port. Its solar projects include SKY PGVCL Solar Farm (2019-20): Gujarat Ground Mount Project, JREDA Rooftop Solar (2017-18): Lighting Jharkhand - Project 1, JREDA Rooftop Solar (2017-18): Illuminating Jharkhand - Project 2, JREDA Home Light System (2019-20): Powering Homes in Jharkhand, Buddha Smriti Park, Bihar Rooftop Installation.
SOLEX ENERGY LIMITED 
