Swelect Energy soars on getting nod to invest up to Rs 20.76 crore in USolar Assetco Four
Swelect Energy Systems is currently trading at Rs. 600.65, up by 18.25 points or 3.13% from its previous closing of Rs. 582.40 on the BSE.
The scrip opened at Rs. 608.60 and has touched a high and low of Rs. 619.45 and Rs. 591.65 respectively. So far 2594 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 979.10 on 10-Oct-2025 and a 52 week low of Rs. 480.10 on 09-Mar-2026.
Last one week high and low of the scrip stood at Rs. 619.45 and Rs. 555.85 respectively. The current market cap of the company is Rs. 911.57 crore.
The promoters holding in the company stood at 56.37%, while Institutions and Non-Institutions held 0.58% and 43.06% respectively.
Swelect Energy Systems has secured approval to invest up to Rs 20.76 crore in equity share capital of its wholly owned subsidiary -- USolar Assetco Four. The investment will be used to set up a 26.6 MWp DC solar power plant under Group Captive Scheme. The investment committee of the Board of Directors of the company, at its meeting held on September 24, 2026, has approved the same. On allotment of shares by USolar Assetco Four to Group captive investors, the company’s shareholding in USolar Assetco Four will reduce from 100% to 74% and the status of USolar Assetco Four will change to the subsidiary company from wholly owned subsidiary of the company.
Additionally, the investment committee has approved the acquisition of 100% equity shares of GNU SOLAR ASSETCO TWO (GNU Solar Two), a based in Karnataka, for a consideration of upto Rs 10 lakh. Post this acquisition, GNU Solar Two would become a wholly owned subsidiary of the company and in future, it would set up a solar power plant under Group Captive Scheme.
