Swelect Energy Systems has received approval for investment of Rs 2.50 crore, by way of subscription to the Redeemable, Non-Convertible, Non-Cumulative 0.01% Preference Shares in its Wholly Owned Subsidiary, Noel Media & Advertising’.
With this investment, the company will hold 100% Redeemable, Non-Convertible, Non-Cumulative 0.01% Preference Shares of Noel Media & Advertising. The equity shareholding with voting rights of Swelect Energy Systems in Noel Media & Advertising remains unchanged at 100%. The investment is made to meet various funding requirements of Noel. The Acquisition will be tentatively completed by March 31, 2025. The Board of Directors of the company at their meeting held on March 22, 2025 has approved the same.
Swelect Energy Systems (formerly known as Numeric Power Systems) is one of the leading Solar Power Systems Company with a strong presence in global energy market.
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