Gallantt Ispat Shares Rise 1.19% as Board Approves New 80 MW Solar Power Subsidiary

Gorakhpur, October 9, 2025: Gallantt Ispat Limited (BSE: 532726, NSE: GALLANTT) informed that the Board of Directors has sanctioned the incorporation of a wholly owned subsidiary, Suryalaxmi Technologies Private Limited, as its strategic foray into the renewable energy sector with a large-scale solar power project.

Gallantt Ispat Limited, a 2005-listed company on both the BSE and the NSE, is a major player in the iron and steel products industry, with production facilities in Gorakhpur (Uttar Pradesh) and Kutch (Gujarat). The diversification into solar power reflects the company’s emphasis on sustainable industrial development and energy efficiency.

Strategic Expansion into Renewable Energy

Gallantt Ispat Limited has added a new wholly owned subsidiary, Suryalaxmi Technologies Pvt Ltd, to lead its foray into the renewable energy space. The new entity commences operations with an authorised and subscribed capital of ₹1 lakh, and Gallantt Ispat intends to infuse additional equity to finance the setting up of a 62.5–80 MW solar power project in Tehsil Meja, Villages Kosada Kalan and Dewri, District Prayagraj, Uttar Pradesh.

The solar power generated by this project will be sold or transmitted to the State Government or through the Energy Exchange, in line with the company’s long-term clean energy and sustainability strategy.

Key Project Details:

• Subsidiary Name: Suryalaxmi Technologies Pvt Ltd
• Industry: Power Infrastructure & Distribution
• Project Capacity: 62.5-80 MW
• Investment Mode: Cash (100% subscription by Gallantt Ispat)
• Location: Prayagraj, Uttar Pradesh
• Objective: To generate and transmit solar power to the State or Energy Exchange
• Shareholding: 100% Wholly Owned Subsidiary
• Incorporation Cost: ₹1 lakh (face value ₹10 per share)

The move reflects Gallantt Ispat’s resolve to diversify its portfolio and help India shift towards renewable energy.

Market Reaction

Gallantt Ispat Limited shares closed at ₹662, a 1.19% rise on October 9, 2025. Gallantt Ispat Limited shares are trading at 85% year-to-date, 66% in the past six months, and fell 7.24% in the past month.

Shares in Gallantt Ispat Ltd opened at ₹658.80 and moved between a high of ₹679.00 and a low of ₹649.00 for the session. The company’s market capitalization was ₹15,970 crore. The stock is currently available at a price-to-earnings (P/E) ratio of 35.29 and has a dividend yield of 0.19%. The 52-week range of Gallantt is from ₹292.05 on the lower side to ₹802.25 on the higher end, demonstrating huge appreciation over the last year. The company pays a quarterly dividend of ₹0.31 per share.

REF: https://nsearchives.nseindia.com/corporate/GALLANTT_09102025130237_GIL_OUTCOME_09102025.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations