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CG Power touches roof after seeking government’s approval to set up OSAT facility

22 Nov 2023 Evaluate

CG Power and Industrial Solutions is currently trading at its upper limit of Rs. 469.00, up by 78.15 points or 19.99% from its previous closing of Rs. 390.85 on the BSE.

The scrip opened at Rs. 390.85 and has touched a high and low of Rs. 469.00 and Rs. 386.00 respectively. So far 723806 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 469.00 on 22-Nov-2023 and a 52 week low of Rs. 245.55 on 23-Dec-2022.

Last one week high and low of the scrip stood at Rs. 469.00 and Rs. 383.00 respectively. The current market cap of the company is Rs. 60420.28 crore.

The promoters holding in the company stood at 58.12%, while Institutions and Non-Institutions held 24.57% and 17.30% respectively.

CG Power and Industrial Solutions has filed an application with Ministry of Electronics and Information Technology (MeitY), Government of India seeking approval to set up an Outsourced Semiconductor Assembly and Test (OSAT) facility and the grant of subsidy for the said project under the Modified scheme for setting up of Compound Semiconductors / Silicon Photonics / Sensors Fab/ Discrete Semiconductors Fab and Semiconductor Assembly, Testing, Marking and Packaging (ATMP)/ Outsourced Semiconductor Assembly and Test (OSAT) facilities in India. 

Subject to the project and the subsidy being approved, the Company proposes to implement the same as a Joint Venture in partnership with technology providers/anchor customers, which are under discussion. The estimated investment on the project over a period of five years is $791 million and the same is expected to be funded by a combination of subsidy, JV Partners equity contribution and debt, as required.

CG Power and Industrial Solutions (formerly Crompton Greaves) is a global pioneering leader in the management and application of electrical energy.


CG Power & Indl.Soln Share Price

774.85 19.05 (2.52%)
17-Apr-2026 16:59 View Price Chart
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