Infrastructure penny stock under Rs 10 to raise Rs 49.50 crore through rights issue

In the past one month, the stock has gained over 12 per cent.

PVV Infra Limited, an infrastructure company primarily focused on solar power rooftop installations, held its board meeting on December 31, 2024. During the meeting, several strategic decisions were approved, aimed at accelerating the company's growth trajectory and reinforcing its operational framework.

Key decisions from the Board included approving a Rights Issue to raise up to Rs 49.50 crore through fully paid-up equity shares with a face value of Rs 10 each, offering existing shareholders an opportunity to participate in the company's growth. Details such as the issue price, entitlement ratio, and record date will be finalised in due course, pending regulatory approvals.

To support future growth and funding needs, the Board proposed increasing the authorised share capital from Rs 60 crore to Rs 120 crore, subject to shareholders' approval via a postal ballot. Additionally, the Board approved alterations in the Object Clause of the Memorandum of Association (MOA) to incorporate activities related to solar and wind energy systems, LED manufacturing, EV products, and consultancy services, underscoring the company’s commitment to sustainability and green energy initiatives.

Additionally, Sunil Jagtap, an expert in green energy with over 22 years of experience in the solar and wind energy sectors, was appointed as an Additional Director under the Executive Director category.

Furthermore, the Board also appointed M/s Sambhu Prasad Hanumath Venkata Srinaga Mukkamala, a prominent firm of Practicing Company Secretaries from Visakhapatnam, as the Secretarial Auditor for FY 2024-25.

On January 1, 2025, shares of PVV Infra closed lower by 1.80 per cent. In the past one month, the stock has gained over 12 per cent. The current market cap of the company stands at Rs 37.7 crore.

About PVV Infra
PVV Infra provides services encompassing engineering, design, planning, and execution of infrastructure projects. Additionally, it undertakes the ownership, construction, operation, and transfer of power generation facilities. The company is also involved in constructing various structures such as homes, industrial parks, multiplexes, shopping centres, and townships, among other ventures.

Disclaimer: The article is for informational purposes only and not investment advice.