Rs 1,300 Crore Order Book: Solar Company Incorporates an Associate Company, Teerth RE 4 Private Limited as Special Purpose Vehicle
The stock is up by 93 per cent from its 52-week low of Rs 192 per share.
On Tuesday, shares of Teerth Gopicon Limited gained 0.33 per cent to Rs 370.05 per share from its previous closing of Rs 368.85 per share. The stock’s 52-week high is Rs 774 per share and its 52-week low is Rs 192 per share.
Teerth Gopicon Limited (TGL) has recently incorporated an associate company named "Teerth RE 4 Private Limited" as a Special Purpose Vehicle (SPV). This newly formed entity, with Corporate Identification Number (CIN) U35105GJ2025PTC162197, has an authorized and subscribed paid-up capital of Rs 1,00,000, divided into 10,000 equity shares of Rs 10 each. As it is a newly established company, Teerth RE 4 Private Limited currently has a nil turnover and is yet to commence its business operations. This strategic move by TGL is aimed at executing a specific project awarded by Rajasthan Renewable Energy Corporation Limited (RRECL).
As Teerth Gopicon Limited is the promoter of this associate company, Teerth RE 4 Private Limited is considered a related party. The primary objective of incorporating Teerth RE 4 Private Limited is to undertake the design, supply, erection, testing, and commissioning, along with 25 years of comprehensive operation and maintenance, for rooftop solar photovoltaic power projects on designated government buildings in Rajasthan under the Hybrid Annuity Mode. Initially, Teerth Gopicon Limited has subscribed to 48% of the share capital in cash. Since this is a newly incorporated entity, no governmental or regulatory approvals were explicitly required at this stage, and there is no immediate impact on TGL's financials. Teerth RE 4 Private Limited, incorporated in India, is specifically created for this renewable energy project awarded by RRECL.
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About the Company
Teerth Gopicon Ltd., established in 2019, is a certified all-class civil and electrical contractor specialising in engineering, construction and development. The company primarily focuses on infrastructure projects, particularly roads, sewerage and water distribution systems, in Madhya Pradesh, with a growing presence in other states. TGL has a strong track record of executing projects for both government and private sector clients, offering comprehensive EPC services including detailed engineering, procurement, construction and operation & maintenance.
The company has a market cap of Rs 445 crore and including the above order, the company’s order book exceeds Rs 1,300 crore. The stock is up by 93 per cent from its 52-week low of Rs 192 per share. Investors should keep an eye on this SME stock.
Disclaimer: The article is for informational purposes only and not investment advice.