This EV charging solutions provider revises preferential issue price - Check details

Earlier, Servotech Power Systems bagged an order from Bharat Petroleum Corporation Limited (BPCL), an Indian public sector undertaking (PSU).

The issue price has been revised to Rs 83.40 per share from Rs 82.

The board of directors of Servotech Power Systems Ltd has decided to revise the preferential issue price. The decision was taken in a meeting held on Tuesday. According to an exchange filing, the issue price has been revised to Rs 83.40 per share from Rs 82.

"The Board approved the revision/change in issue price to Rs. 83.40 (Eighty Three and Forty Paisa Only) per warrant to be allotted on preferential basis (instead of earlier decided issue price of Rs. 82/- per warrant) and revise/change and resultant revision of issue size from Rs. 73.80 Crores to Rs. 75.06 Crores," said Servotech Power Systems in a stock exchange filing.

Earlier, Servotech Power Systems bagged an order from Bharat Petroleum Corporation Limited (BPCL), an Indian public sector undertaking (PSU).

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Sharing details, the company in an exchange filing said that the order is for manufacturing, supplying and installing EV chargers at different locations across the country in the next four months.

“We are honoured to lead India's E-Mobility revolution in partnership with BPCL, collaborating closely to establish an energy corridor enabling on-the-move charging for electric vehicles across India. The company's state-of-the-art AC EV Chargers will contribute to the realization of India's ambitious goals in the E-Mobility sector," Sarika Bhatia, Director of Servotech Power Systems Ltd. said.

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