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An announcement from MITCON Consultancy & Engineering Services Ltd. ( (IN:MITCON) ) is now available.
MITCON Consultancy & Engineering Services Ltd. has executed acquisition agreements to purchase up to a 49% stake in MINVEN Solar 02 Pvt. Ltd. and MINVEN Solar 03 Pvt. Ltd., both early-stage Indian solar power generation companies with no turnover yet. The cash transactions, to be completed within 60 days at a face value of Rs. 10 per share via primary and/or secondary allotments, are aimed at scaling MITCON’s solar asset base and deepening its presence in the country’s renewable energy sector, signalling a strategic push into solar infrastructure ownership alongside its advisory capabilities.
More about MITCON Consultancy & Engineering Services Ltd.
MITCON Consultancy & Engineering Services Ltd. operates in the consultancy and engineering services space, with a growing focus on renewable energy assets. The company is expanding its solar power portfolio by acquiring significant stakes in special purpose vehicles engaged in solar generation, development, and related infrastructure within India.
For an in-depth examination of MITCON stock, go to TipRanks’ Overview page.