Ashish Kacholia-Backed Solar Energy Stock Bags 38.43 MW Grid Connected Solar Power Project Worth Rs 134 Crore - Know More Here!
The stock gave multibagger returns of 100 per cent in just 1 year and a whopping 3,600 per cent since its listing on exchanges on October 10, 2025.
Insolation Energy Ltd has received a Letter of Intent (LOI) for a 38.43 MW grid-connected solar power project under the PM KUSUM Scheme - Component A. The project, awarded by Ajmer Vidyut Vitran Nigam Limited and Jaipur Vidyut Vitran Nigam Limited, includes design, supply, installation, testing, commissioning, and a 25-year operation and maintenance agreement.
The finalised tariff is Rs 2.880 per unit for seven sites and Rs 3.020 per unit for 21 sites. The total investment, including GST, is approximately Rs 134 crores, with an expected annual revenue of Rs 18.33 crores.
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Earlier, the company had informed about securing two major contracts that will add Rs 372.20 crore to its revenue. The company received a Letter of Award from Rajasthan Renewable Energy Corporation Limited (RREC) for the design, supply, erection, testing, and commissioning of rooftop solar systems on state government buildings across three districts in Rajasthan. This contract was valued at Rs 340.20 crore, including comprehensive operation and maintenance for 25 years. It also secured a purchase order from Teerth Gopicon Limited for the supply of 46,297 Solar Photovoltaic (SPV) MONO Crystalline Modules worth Rs 32 crores.
Additionally, an ace investor, Ashish Kacholia’s company - Bengal Finance & Investment Pvt Ltd bought 1,21,600 shares via preferential issue for Rs 3,287 per share aggregating to approx. Rs 40 crore. Furthermore, FIIs bought 1,76,500 shares and increased their stake to 1.36 per cent in December 2024 compared to September 2024 while DIIs took a fresh entry and bought 32,900 shares or 0.15 per cent stake.
Incorporated in 2015, Insolation Energy Ltd specializes in manufacturing high-efficiency solar panels and modules, operating a 200 MW SPV Module manufacturing unit in Jaipur, which spans over 60,000 sq. ft. and is equipped with advanced machinery. Notably, the company holds the position of the second-largest North Indian manufacturer of solar panels, batteries, and inverters, based in Jaipur, Rajasthan.
On Thursday, shares of Insolation Energy Ltd surged 0.81 per cent to Rs 281 per share from its previous closing of Rs 279.20 per share. The stock gave multibagger returns of 100 per cent in just 1 year and a whopping 3,600 per cent since its listing on exchanges on October 10, 2025. Investors should keep an eye on this Small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.