Solex Energy544862Convertible securities
Subsidiary board approves CCD issue aggregating ₹150 Crores with option to convert into holding company shares
Board of Solex New Energy Private Limited, a wholly owned subsidiary of Solex Energy Ltd, has approved issuing Compulsorily Convertible Debentures (CCDs).
By ScoutQuest · · 2 min read
- Aggregate size
- ₹150 Crores
- Instrument
- Compulsorily Convertible Debentures (CCDs)
- Tranches
- one or more tranches
Approval at the subsidiary level
- The Board of Directors of Solex New Energy Private Limited, a wholly owned subsidiary of Solex Energy Limited, met on October 19, 2026.
- At that meeting it considered and approved the issuance of Compulsorily Convertible Debentures, or CCDs.
Size and structure of the issue
- Aggregate amount: ₹150 Crores.
- The CCDs are to be issued in one or more tranches.
- The issue is subject to the terms and conditions specified and to completion of applicable statutory and regulatory formalities.
What the instrument can turn into
- The CCDs carry an option to convert into equity shares of Solex Energy Limited, the holding company; the update calls these "Swap Shares".
- The investor holds this conversion option.
- Conversion is subject to the requisite approval of the Board of Directors of the holding company and compliance with applicable laws, rules and regulations.
How to read this as a shareholder
- The issuer is the wholly owned subsidiary, while the shares that may be issued on conversion belong to the listed holding company. So the transaction links the subsidiary's funding to a possible future share issuance by the listed entity.
- Because conversion is optional and needs the holding company's Board approval, the equity issuance would be a later, separate step from this approval.
- For retail readers, the two things to follow are the holding company's approval of the conversion and the terms on which the ₹150 Crores is raised.
Key points at a glance
- Instrument: Compulsorily Convertible Debentures with an option to convert into equity shares of the holding company.
- Amount: ₹150 Crores.
- Tranches: one or more.
- Issuer: Solex New Energy Private Limited, a wholly owned subsidiary.
- Conversion into listed company shares: subject to holding company Board approval and applicable laws.
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More numbers
- Aggregate CCD issue size₹150 Crores
Source: BSE · 19 Oct 2026
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