Enviro Infra Engineers rises on getting nod to acquire 100% stake in Sunaxis Renewables
Enviro Infra Engineers is currently trading at Rs. 256.20, up by 3.80 points or 1.51% from its previous closing of Rs. 252.40 on the BSE.
The scrip opened at Rs. 260.05 and has touched a high and low of Rs. 269.40 and Rs. 255.00 respectively. So far 900909 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 392.00 on 17-Dec-2024 and a 52 week low of Rs. 170.10 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 269.40 and Rs. 216.05 respectively. The current market cap of the company is Rs. 4533.06 crore.
The promoters holding in the company stood at 70.09%, while Institutions and Non-Institutions held 4.34% and 25.57% respectively.
Enviro Infra Engineers has received approval for acquisition of 100% Equity stake of Sunaxis Renewables from EIE Renewables, a wholly owned subsidiary of the Company, a related party transaction. Post Acquisition, Sunaxis Renewables will become the step-down wholly owned subsidiary of the company.
Sunaxis Renewables is incorporated to establish and operate as a Special Purpose Vehicle (SPV) for executing the projects related to the development of Ground Mounted / Floating Solar Power Projects (SPP) including the complete lifecycle of SPPs from concept to Engineering, Procurement, and Construction (EPC) covering design, development, installation commissioning, operation, and maintenance along with all incidental or ancillary activities necessary for the successful execution of the projects in accordance with the terms and conditions set forth by the State /Central Government across India.
This acquisition will enable the company to tap the opportunities prevailing in the Solar Power Projects and aligns with the long-term vision of the company to expand into sustainable and future-oriented business segments. The Board of Directors of the Company, at its meeting held on May 28, 2025, has approved the same.
Enviro Infra Engineers is engaged in designing, construction, operation and maintenance of water and wastewater treatment plants and water supply scheme projects for government authorities/bodies.
