Servotech Renewable in focus on Monday as Coeus Fund converts warrants
The company allotted the shares at ₹83.40 per share (₹1 face value + ₹82.40 premium), receiving ₹6.25 crore or 75% of the issue price as upfront payment. This allotment is part of a larger preferential issue of 89 lakh warrants announced in January 2024.
With this move, Coeus Global Opportunities Fund doubled its stake in Servotech from 0.44% to 0.88%, now holding 20 lakh shares. Consequently, the company's paid-up capital increased from ₹22.48 crore to ₹22.58 crore.
Green Energy and EV Infra Drive Growth
Servotech's growth isn't limited to capital infusion. Its subsidiary, Incharz (Servotech EV Infra), recently signed an MoU with Noida Power Company Ltd (NPCL) — a joint venture between the RP-Sanjiv Goenka Group and Greater Noida Industrial Development Authority. The deal aims to boost EV charging infrastructure across Greater Noida, targeting corporate campuses, housing societies, commercial spaces, and hospitals.
NPCL will assist by recommending strategic locations and liaising with power distribution companies to accelerate setup and reduce costs. Incharz has already installed EV chargers at two residential complexes as part of the initiative.
Stock Performance
Servotech Renewable has been on a steady upward trajectory:
+21% in the past month
+19% over the last three months
+67% in one year
Massive 2,300% gain over three years, making it a multibagger in the smallcap space
Despite closing slightly lower at ₹147.50 on Friday (down 0.04%) on the NSE, the stock's fundamentals and long-term prospects remain strong due to its active role in India's green energy transition.
Investor Note
With increased institutional interest and a strong pipeline in EV infrastructure, Servotech Renewable Power System is likely to draw heightened attention in the coming trading sessions.
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