Websol Energy System touches roof on inking term sheet for establishment of Joint Venture
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Websol Energy System is locked its upper circuit limit at Rs. 108.50, up by 9.85 points or 9.98% from its previous closing of Rs. 98.65 on the BSE.
The scrip opened at Rs. 105.00 and has touched a high and low of Rs. 108.50 and Rs. 105.00 respectively. So far 235911 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 172.75 on 04-Jan-2022 and a 52 week low of Rs. 62.00 on 27-Sep-2021.
Last one week high and low of the scrip stood at Rs. 103.75 and Rs. 88.55 respectively. The current market cap of the company is Rs. 397.55 crore.
The promoters holding in the company stood at 25.37%, while Institutions and Non-Institutions held 2.72% and 71.90% respectively.
Websol Energy System has entered into a Term Sheet for establishment of a Joint Venture for the manufacture and production of up to 1.2 GW monocrystalline PERC solar cells and modules in two phases of 600 MW each with AMP Energy India at their existing unit at Falta, West Bengal. It is proposed to set up the unit in a JV company in which Websol will hold 51% and AMP the balance 49%.
The project is to be financed with a combination of Debt and Equity and will have an off take agreement with AMP Energy India for upto 50% of production. The above Term Sheet is subject to both parties agreeing on certain commercial terms and DD, Definitive Agreements.
Websol Energy System is one of the top Indian brands into the manufacturing of photovoltaic crystalline solar cells and the related modules.
