Oswal Pumps Limited announced that its wholly-owned subsidiary, Oswal Solar Energy Private Limited, has incorporated a new subsidiary named Oswal Doon Baran Bundi Solar Projects Limited on May 06, 2026. This new entity will function as a step-down subsidiary of Oswal Pumps Limited. Oswal Doon Baran Bundi Solar Projects Limited has an authorized share capital of ₹10,00,000, divided into 1,00,000 equity shares of ₹10 each, and a subscribed share capital of ₹1,00,000, comprising 10,000 equity shares of ₹10 each. The entity is yet to commence business operations, thus its size and turnover are not applicable at this stage. The incorporation is part of a larger project where Oswal Solar Energy Private Limited and Doon Infrapower Projects Private Limited will jointly hold 60% and 40% of the paid-up equity share capital, respectively. The objective is to design, supply, erect, test, and commission Rooftop Solar (RTS) Photovoltaic Power Projects on State Government buildings in Rajasthan. This will include comprehensive operation and maintenance for 25 years from the project commissioning date, under the Hybrid Annuity Mode (HAM). This initiative stems from a Letter of Award received on March 30, 2026, for 33 MW capacity. Oswal Solar Energy Private Limited has subscribed to 6,000 equity shares of ₹10 each, aggregating to ₹60,000, thereby acquiring a 60% stake in the new subsidiary. The acquisition does not involve related party transactions or promoter group interests and is not subject to specific governmental or regulatory approvals at this juncture. The entity belongs to the Engineering, Procurement, and Construction (EPC) sector, focusing on the development, operation, and maintenance of solar power projects.
