Servotech Renewable Power System incorporated a wholly-owned subsidiary as SERVOTECH FOUNDATION

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Servotech Renewable Power System incorporated a wholly-owned subsidiary as SERVOTECH FOUNDATION

From Rs 2.08 to Rs 65.21 per share, the stock has delivered multibagger returns of over 3,000 per cent in 5 years.

Servotech Renewable Power Systems Ltd has announced the incorporation of a wholly-owned subsidiary, Servotech Foundation, registered as a Section 8 (not-for-profit) company under the Companies Act, 2013. With an authorised and paid-up share capital of Rs 1,00,000, consisting of 10,000 equity shares at Rs 10 each, the entity is established with a cash consideration from the parent company. As a newly formed subsidiary, the foundation has yet to commence business operations and currently reports no turnover.

The foundation is designed to serve as the dedicated CSR arm for Servotech, focusing on high-impact areas such as education, employability, entrepreneurship, and environmental sustainability. By aligning its objectives with Schedule VII of the Companies Act, the entity will plan and execute initiatives related to health, nutrition, and sustainable development. While the foundation is a related party by virtue of its subsidiary status, its primary mission is to streamline the parent company’s social responsibility efforts and promote long-term community welfare.

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About the Company

Servotech Renewable Power System Limited, formerly Servotech Power Systems Ltd., is an NSE-listed company specialising in advanced EV charging solutions. Leveraging over two decades of expertise in electronics, they design and develop a wide array of AC and DC chargers compatible with various electric vehicles for both commercial and domestic applications. With their robust engineering capabilities, Servotech aims to be a key contributor to India's burgeoning EV infrastructure, solidifying their legacy as a trusted brand known for innovation and technological advancements across the country.

The company has a market cap of over Rs 1,400 crore and the stock is trading below Rs 100 per share. From Rs 2.08 to Rs 65.21 per share, the stock has delivered multibagger returns of over 3,000 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.