H.G. Infra Engineering Limited has announced the incorporation of a wholly owned subsidiary, H.G. Gujarat Bess Private Limited, as a Special Purpose Vehicle (SPV) for business operations in the battery energy storage system sector. The subsidiary was incorporated on February 5, 2025.
According to the company’s filing with stock exchanges, the new entity has an authorized capital of Rs. 15,00,000, divided into 1,50,000 equity shares of Rs. 10 each. The company has also subscribed to the full capital amount.
H.G. Gujarat Bess Private Limited is classified as a related party transaction since it is wholly owned by H.G. Infra Engineering. The company’s promoter, Girish Pal Singh, serves as a non-executive director in the newly incorporated subsidiary.
As a recently incorporated entity, H.G. Gujarat Bess Private Limited has yet to commence its business operations. The company will focus on battery energy storage systems, but no immediate impact on H.G. Infra Engineering Limited has been reported. The transaction was carried out through cash consideration.
The subsidiary was registered in Rajasthan, India. Further developments regarding business operations and potential projects are expected to be disclosed as the company progresses.