Servotech Secures Landmark Solar Project From Indian Railways' Waltair Division, Shares Rally

The Waltair Division of the East Coast Railway, located in Visakhapatnam, Andhra Pradesh, awarded Servotech Renewable Power System Ltd. (previously Servotech Power Systems Ltd.) a significant order on Wednesday for a 4.1 MW on-grid rooftop solar project. The project has a Rs 15.8 crore valuation. In the Waltair division, Servotech will design, manufacture, supply, install, test, and commission rooftop on-grid solar photovoltaic (PV) plants of various capacities at various locations.

"We are pleased to inform all our stakeholders that the Company has secured a prestigious order for a 4.1 MW on-grid rooftop solar project from the Waltair Division, East Coast Railway, situated at various locations in Visakhapatnam, Duvvada-Palasa Main Line, Naupada- Gunupur Branch Line and Vizianagaram-Rayagada of RV Line and Kottavalasa (Excl.)-Kirandul of KK Line and Koraput-Rayagada (Excl.) of KR Line of Waltair Division," said the company in a stock exchange filing.

"This initiative is part of the Indian Railways' broader mission to integrate renewable energy into its infrastructure and reduce its carbon footprint, reinforcing its position as a leader in sustainable transportation," said Servotech Renewable Power System in a statement.

Sarika Bhatia, Director, Servotech Renewable Power System Ltd., commented, "We are delighted to have been awarded this significant 4.1 MW rooftop solar project by the Waltair Division of the East Coast Railway. This order reaffirms Servotech's position as a trusted partner in India's renewable energy landscape. We are committed to delivering best-in-class solar solutions and are proud to support Indian Railways in its journey towards cleaner and greener operations."

At its meeting on April 7, 2025, the Board of Directors of Servotech Renewable Power System Limited, on the recommendation of its sub-committees approved the allocation of equity shares upon conversion of an additional 2,00,000 warrants into 2,00,000 equity shares. Of the 89,00,000 warrants issued as of January 06, 2024, with a face value of Re. 1/-each at an issue price of Rs. 83.40 each, including a premium of Rs. 82.40/-per share, the Board of Directors granted preferential treatment to "Non-Promoters/Public Category" upon receipt of funds totalling Rs. 1,25,10,000/- at the rate of Rs. 62.55 per warrant.
Servotech Renewable Power System Limited, formerly known as Servotech Power Systems Ltd., is an NSE-listed company that develops technologically advanced EV charging solutions. It offers a wide variety of AC and DC chargers that work with various EVs and have a variety of uses, including residential and commercial.

On Thursday, the shares of Servotech Renewable Power System opened higher on the NSE at Rs 134.49 per share compared to the previous close of Rs 129.80.