ISGEC Heavy Engineering delays FPEL HR1 Energy acquisition

ISGEC Heavy Engineering Limited informed stock exchanges on December 4, 2025, that the acquisition of 26% equity share capital of FPEL HR1 Energy Private Limited has been delayed. The original announcement for this acquisition, including the execution of a Solar Power Purchase Agreement and a Share Subscription and Shareholders’ Agreement, was dated October 6, 2025, with an indicative completion timeline of 60 days.

The company stated that the delay is attributed to certain procedural formalities at FPEL HR1 Energy Private Limited that are still in progress, preventing the transaction from being completed within the initial timeline.

Consequently, ISGEC Heavy Engineering now anticipates completing the acquisition, which involves the allotment of shares by FPEL HR1 Energy Private Limited, within a further extended period of 30 days. The company has committed to keeping the stock exchanges informed of any future developments.