Gallantt Ispat to build solar plant via new subsidiary

Gallantt Ispat Limited's board of directors approved the incorporation of Suryalaxmi Technologies Private Limited as a wholly-owned subsidiary. The initial investment in the subsidiary will be INR 1,00,000, with further share subscriptions planned to fund the solar power plant. This transaction is considered a related party transaction conducted at "arm's length."

The newly formed Suryalaxmi Technologies Private Limited will establish a solar power plant with an annual capacity of 62.5 to 80 MW. This initiative responds to a tender document issued by Uttar Pradesh Power Corporation Limited (UPPCL) on September 12, 2025, for solar power plant development, and the subsidiary will participate in this bidding process.

The solar power plant project will be located in Tehsil Meja, Villages Kosada Kalan and Dewri, District Prayagraj, or an adjacent area. Power generated will be sold and transmitted to the State Government or the Energy Exchange. The subsidiary's primary objective is to set up this solar power plant and engage in power generation and transmission.