H.G. Infra Engineering Limited announced that H.G. Solar Projects Private Limited, a wholly-owned subsidiary of the company has incorporated a wholly owned subsidiary, namely H.G. Sanchore Solar Project Private Limited. Authorized, Subscribed and Paid-up share capital: INR 100,000/- divided into 10,000 equity shares of INR 10/- each. Turnover: Not applicable (Yet to commence business operations). The transaction may be considered a related
party transaction as the investment is in a step-down subsidiary as a 100% subsidiary of H.G. Solar Projects Private Limited (a wholly owned subsidiary of H.G. Infra Engineering Limited (the "Company"). Ms. Poonam Singh Choudhary and Mr. Navneet Choudhary, directors of H.G. Sanchore Solar Project Private Limited, belong to the promoter group of the Company. The shares have been subscribed at par and at arm's length. H.G. Sanchore Solar Project Private Limited will carry out business in the field of Solar Power. Impact of acquisition: As it is a newly incorporated company, there is no impact on the Company as of now. Initial subscription to the share capital of INR 100,000/- divided into 10,000 Equity Shares of INR 10/- each. Percentage of shareholding /control acquired and /or number of shares acquired: 100% investment by H.G. Solar Projects Private Limited, a wholly-owned subsidiary of the Company.