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Promax Power acquires 63.76% stake in Promax Solar One Hubli

04 Feb 2026 Evaluate

Promax Power has acquired 63.76% stake in Promax Solar One Hubli. This strategic investment not only strengthens company’s commitment to sustainable practices but also promises to deliver enhanced value to Promax Power shareholders.

The said acquisition has been undertaken for the purpose of development, ownership and operation of a 6.0 MW (AC) solar power project at Hipparagi, Karnataka, awarded under RESCO mode by Hubli Electricity Supply Company (HESCOM).

Promax Power is engaged in the business of engineering procurement construction for electrification, civil infrastructure, and water infrastructure management projects.

Peers
Company Name CMP
Larsen & Toubro 4162.20
Kalpataru Projects 1350.20
NCC 135.75
Rail Vikas Nigam 205.40
KEC International 340.25
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