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Orient Green Power Company

Orient Green Power eyeing to raise authorised share capital to Rs 2,500 cr

Orient Green Power will seek shareholders' approval to raise its authorised share capital to Rs 2,500 crore from the existing Rs 1,600 crore in its annual general meeting later this month. The proposal to raise the authorised share capital is listed on the agenda of the annual general meeting scheduled on June 28, 2024, the notice of the AGM stated on Thursday. The notice informed that to undertake a capital raising activity in the future and for other business requirements that arise from time to time, it is proposed to increase the authorised share capital from Rs 1,600 crore to Rs 2,500 crore. The increase in authorised share capital of the company and alteration of Clause V of the Memorandum of Association are subject to the approval of members of the company by way of passing an ordinary resolution in terms of Sections 13, 61 and 64 and other applicable provisions of the Companies Act, 2013, as well as any other applicable statutory and regulatory approvals, it added. The comp

Orient Green Power eyeing to raise authorised share capital to Rs 2,500 cr
Updated On : 06 Jun 2024 | 5:07 PM IST

Orient Green Power plans to raise up to Rs 250 crore via rights issue

Orient Green Power Company plans to raise up to Rs 250 crore through issue of equity rights to its existing shareholders. The issue of equity shares with face value of Rs 10 each of the Orient Green Power Company is proposed for an aggregate amount not exceeding Rs 25,000 lakh (Rs 250 crore) on a rights basis to the existing equity shareholders of the company, a BSE filing on Saturday showed. The company has not disclosed the rights issue ratio, price of each share and the record date, said Sumedha Fiscal Services Ltd and Saffron Capital Advisors Pvt Ltd, the lead managers to the issue, citing the draft letter of offer (DLOF) dated May 17, 2024. Under the rights issue, a company invites its shareholders to buy additional shares at a discount. Shareholders get rights to purchase shares at lower than the market rate, helping the company raise funds without bringing in new investors. The company, an independent power producer that uses renewable sources like wind energy, has sought ..

Orient Green Power plans to raise up to Rs 250 crore via rights issue
Updated On : 19 May 2024 | 7:18 PM IST

Orient Green Company Q3 results: Loss at Rs 20 crore, income at Rs 38 cr

Orient Green Power Company Limited (OGPL) on Wednesday reported a consolidated net loss of Rs 20.64 during the quarter ended December 2023. It had posted a net profit of Rs 9.74 crore in the October-December period of the preceding 2022-23 financial year, the company said in an exchange filing. Its total income was trimmed to Rs 38.18 crore from Rs 57.33 crore a year ago. Expenses stood at Rs 60.76 crore against Rs 65.78 crore in the third quarter of the last fiscal. In a separate statement, its CMD T Shivaraman said, "Our board approved a rights issue for about Rs. 250 crore predominantly for venturing into solar business and debt reduction. The reduced finance cost and a conducive regulatory environment promoting green energy bode well for the future".

Orient Green Company Q3 results: Loss at Rs 20 crore, income at Rs 38 cr
Updated On : 14 Feb 2024 | 8:56 PM IST

Orient Green Power Company's net profit rises 6% to Rs 9.29 cr in Q1

Orient Green Power Company on Friday posted a 6 per cent rise in its consolidated net profit to Rs 9.29 crore in the June quarter. The company had reported a consolidated net profit of Rs 8.76 crore in the quarter ended on June 30, 2022, according to a statement. Total income of the company increased to Rs 79.28 crore in the quarter from Rs 78.19 crore in the same period a year ago. "Further to the refinancing of over Rs 703 crore during March 2023, the company refinanced secured loans over Rs 78 crore during the year at reduced interest rates. The interest/charges on pre-closure charges of these loans amounted to Rs 386 lakh classified under exceptional items," T Shivaraman, Managing Director & CEO, said in the statement. The company also said that a board committee has approved the letter of offer of the rights issue which will open by August 28, 2023, Shivaraman said.

Orient Green Power Company's net profit rises 6% to Rs 9.29 cr in Q1
Updated On : 11 Aug 2023 | 6:29 PM IST

Orient Green Power loss narrows to nearly Rs 19 cr in March quarter

Orient Green Power Company on Thursday posted a consolidated net loss of Rs 18.97 crore in the March quarter on the back of higher expenses. The consolidated net loss of the company was Rs 32.35 crore in the year-ago period, a BSE filing stated. The company's total income stood at Rs 46.45 crore during the quarter as against Rs 40.20 crore a year ago. The total expense of the firm rose to Rs 71.99 crore during the period under review from Rs 70.88 crore in the corresponding period of the previous year. The consolidated net loss also narrowed to Rs 33.33 crore in 2022-23 as compared with Rs 35.78 crore in the previous fiscal. "The current fiscal is a moderate one in terms of wind availability with a dip in generation. This is expected to be recouped from an early onset of wind season next year," T Shivaraman, Managing Director and CEO, said in the statement. The previous year witnessed a one-time income of Rs 2,465 lakh due to resumption in REC (renewable energy certificates) trad

Orient Green Power loss narrows to nearly Rs 19 cr in March quarter
Updated On : 20 Apr 2023 | 10:50 PM IST

Orient Green Power to sell loss-making biomass biz for Rs 275 cr

Orient Green Power Company Limited (OGPL), which is part of Shriram Group and a renewable energy-based power generation company, to sell its bulk of Biomass Operations to its Promoter Company - Shriram Ventures Ltd (SVL Ltd) or its subsidiaries. Enterprise Value of the sale estimated at around Rs 275 crore. The development comes ahead of company's plan to merge the it's wind energy assets with IL&FS Wind Energy Ltd.The PEs-backed OGPL had 96 MW of Biomass, of which it had already sold 30 MW, in Rajasthan and Maharashtra, and now planing to sell 68 MW to SVL, which is promoter of OGPL or to its subsidiaries.T Shivaraman, vice chairman of OGPL and son of Shriram Group founder R Thyagarajan, said that the decision was taken to enhance the value of shareholders of OGPL.He noted, Biomass operations registered revenues of Rs 78 crore, lower by 24 per cent on a year on year basis due to shutdown of some of the plants. The Biomass operations registered a loss before tax of Rs 81 crore in .

Orient Green Power to sell loss-making biomass biz for Rs 275 cr
Updated On : 01 Jul 2017 | 11:32 PM IST

Orient Green Power cancels equity sales deed with Singapore firm

Orient Green Power Company Limited has said that an Memorandum of Understanding (MoU) signed with Sindicatum Captive Energy Singapore Pte Limited, to divest entire stake held in Orient Green Power (Maharashtra) Private Limited (OGPML) for a sale of 20 MW co-generation power project in Kolhapur, Maharashtra, stands cancelled. The company, in a regulatory filing said that while the plans were to sell 100 per cent equity shares held by OGPML to the Singapore-based company, Padmashri Dr D Y Patil Sahakari Sakhar Karkhana Ltd (society) exercised its option of first right to purchase the shares of OGPML as per the terms of Build, Own, Operate and Transfer (BOOT) agreement signed with them. Earlier, the company said that it has been supplying electricity and steam to the Society against delivery by the Society of bagasse, fresh water, land on lease and sugar cane and the company had obligation to transfer the facility to the Society after 13 years from the date of commencement of commercial .

Orient Green Power cancels equity sales deed with Singapore firm
Updated On : 10 May 2017 | 8:30 PM IST