ACE takes 30% stake in solar developer

Action Construction Equipment Limited is investing 7.35 million rupees to acquire a 30% equity stake in solar power developer Hexa Energy HR1 Private Limited. The construction equipment maker will subscribe to 18,702 equity shares at 393 rupees per share. The investment secures ACE's participation in a solar power project and its associated Power Purchase Agreement, marking the company's strategic push into renewable energy. The deal represents ACE's diversification beyond its core construction equipment business into the growing solar power sector.