Om Power Transmission Limited’s board has approved the incorporation of a new subsidiary, OPTL Green Energy Private Limited, to venture into the renewable energy sector. This strategic move will see the company develop, own, and operate various renewable energy projects, including solar, wind, and hybrid systems. Om Power Transmission Limited will subscribe to 5,600 equity shares at ₹10 each, totaling ₹56,000, giving it a 56% stake in the new entity. The incorporation is contingent on obtaining all necessary statutory and regulatory approvals.
Furthermore, the board has initiated a postal ballot to seek shareholder consent for two key resolutions: to borrow funds exceeding the company’s paid-up share capital and free reserves under Section 180(1)(c) of the Companies Act, 2013, and to create a charge, mortgage, or pledge on the company’s assets up to ₹1000 crores. These resolutions are crucial for financing the company’s expansion into the green energy sector.
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