10,377,840 Equity Shares of Agni Green Power Limited are subject to a Lock-Up Agreement Ending on 1-AUG-2023.
August 31, 2023
Share
10,377,840 Equity Shares of Agni Green Power Limited are subject to a Lock-Up Agreement Ending on 1-AUG-2023. These Equity Shares will be under lockup for 365 days starting from 1-AUG-2022 to 1-AUG-2023.
Details:
Pursuant to Regulation 236 of SEBI (ICDR) Regulations 2018, minimum promoters? contribution should be not less than 20% of the post Issue equity share capital of the Company. Further, in terms of Regulation 238(a) of SEBI ICDR Regulations, minimum promoter?s contribution will be locked-in for a period of three years from the date of Allotment or date of commencement of commercial production, whichever is later and the Equity Shares held by Promoter of the Company in excess of minimum promoter?s contribution will be locked-in for a period of one year from the date of Allotment.
As on the date of the prospectus, i.e. July 14, 2022, the Promoters collectively hold 1,08,93,440 Equity Shares constituting 55.76% of the Post offer issued, subscribed and paid-up Equity Share capital of the Company, out of which 39,06,960 equity shares being 20% of the post Issue equity share capital of our Company are eligible for the Promoter?s Contribution margin. An aggregate of minimum 20.00% of the post-issue capital, held by the Promoters shall be considered as Promoter?s Contribution (?Minimum Promoter?s Contribution?) and locked-in for a period of three years from the date of allotment.
In excess of minimum 20% of the post-Issue shareholding of the Company held by the Promoter (locked in for three years as specified above), the balance pre-issue share capital of the Company held by promoters, i.e. 10,377,840 shares, shall be locked in for a period of one year from the date of Allotment in this Issue as provided in clause 238(b) of SEBI (ICDR) Regulations 2018.
Agni Green Power Limited is an India-based solar photovoltaic (PV) contractor. The Company is engaged in the business of executing turn-key solar PV power plant projects, including design, engineering, supply, installation and commissioning and maintenance, for both stand-alone and grid connected PV systems from the conceptualization to completion stages including manufacturing of different solar sub-systems. The Company is an integrated solar energy solutions provider offering engineering, procurement and construction services, and operations and maintenance services to its customers. It also provides solar consultancy services to help clients to make informed decisions about solar energy. It manufactures solar power conditioning unit, solar inverter (hybrid and grid connected), solar maximum power point tracking charger, remote monitoring and diagnostic system, solar photovoltaic junction box, control panel, solar pump controller and digital DC energy meter, among others.