Websol Energy System Limited announced a private placement of up to 1,400,000 equity shares at a price of INR 105 per share for gross proceeds of INR 147,000,000 on May 15, 2023. The transaction will include participation from new investors, Websol Green Projects Pvt Ltd and S L Industries PVT Ltd. The securities will be issued on preferential basis. The notice to convene the extra ordinary general meeting to be held on Wednesday, June 28, 2023.

The transaction has been approved by the board of directors of the company. The transaction is subject to the approval of the Stock Exchanges and Members in compliance of sections 42 & 62 of the Companies Act, 2013 to the extant rules notified and other applicable rules and regulations thereto.