1:4 Bonus Shares: This Solar Company Partners with State Bank of India to Offer Financial Solutions for Solar Photovoltaic Projects
The stock gave multibagger returns of over 300 per cent from its 52-week low is Rs 332 and a whopping 3,400 per cent in 3 years.
Solex Energy Ltd (NSE: SOLEX), one of India's most trusted solar brands, announced its strategic partnership with the State Bank of India (SBI), the nation’s leading public sector bank, to offer solar financing options for commercial, industrial, and institutional customers. This partnership aims to accelerate the adoption of solar energy solutions nationwide by providing easy financing for grid-connected rooftop and ground-mounted solar photovoltaic projects.
Under this collaboration, SBI will offer solar financing through its Surya Shakti Solar Finance Scheme, with loan amounts up to Rs 10 crore for projects across India. The scheme caters to SMEs and business enterprises looking to install solar rooftop or ground-mounted grid-connected systems under both net metering and zero export arrangements. SBI will provide a digital platform that ensures a hassle-free loan application process for financing solar projects.
SBI will offer financial assistance of up to Rs 10 crore for eligible solar projects, encompassing grid-connected rooftop and ground-mounted solar projects for captive use, as well as rooftop projects under net metering arrangements or zero export devices. Solex Energy Limited provides comprehensive support, from site evaluation and design to regulatory approvals, and assists with obtaining comprehensive insurance from SBI for the loan term duration, ensuring a seamless and secure solar energy journey.
Earlier, shares of the company ex-traded bonus shares in the ratio of 1:4. This means that for every 4 existing fully paid-up equity shares of Rs 10 each held by the eligible shareholders as of the Record Date, they will receive 1 new fully paid-up equity share of Rs 10 each. The ex-date for bonus shares was Friday, September 20, 2024.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Solex Energy Ltd is a renewable energy company specializing in manufacturing solar panels and other related devices, such as solar lanterns, street lights, water pumps, and inverters. Beyond manufacturing, the company offers comprehensive solar solutions to residential, commercial, and governmental clients. Their services include designing, procuring, and constructing solar power plants for both residential and commercial sectors, providing a one-stop solution for those looking to harness solar energy.
The stock gave multibagger returns of over 300 per cent from its 52-week low is Rs 332 and a whopping 3,400 per cent in 3 years. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.