Insolation Energy shares price was trading lower early on October 25 after the company's wholly-owned subsidiary Insolation Green Energy awarded a purchase order for the supply of Solar PV Modules at NTPC Khavada Gujarat Site.
At 09:24 am, Insolation Energy was quoting at Rs 3,483.00, down Rs 63.50, or 1.79 percent, on the BSE.
Zetwerk Manufacturing Business has awarded a contract worth Rs 208.31 crore for the supply of 550 Wp SPV Modules to be executed in the financial year 2024-25.
The company board at its meeting held on October 15, had approved the issuance of up to 12,23,500 equity shares of the face value of Rs 10 each of the company at an issue price of Rs 3287 per equity share inclusive of a premium of Rs 3277 in one or more tranches for an aggregate consideration of upto Rs 402,16,44,500 on preferential basis to non-promotor entities.
The board also approved the convening of an extraordinary general meeting (EGM) of the company on November 13, 2024, to approve the above matter.
On October 17, the company informed that they will add another 3GW of solar module capacity (4GW total) and 12000MT of Aluminium frame manufacturing capacity before the end of FY25.
The company will also establish 1.5GW of cell manufacturing by the end of the next financial year - the necessary technology tie-ups for which, have been done, it added.
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