370% Gain YTD: Promoters Buys Stake In This Multibagger Stock; Do You Own?

In the capital goods industry, Servotech Power Systems Ltd. is a small-cap company. With its EV chargers that are incredibly efficient and its high-end solar products, the firm is at the cutting edge of revolutionising the energy industry. The company is very pleased with its development of home AC chargers and ultra-fast DC chargers. One of the multibagger stocks that the Indian stock market has produced in recent times is Servotech Power Systems shares as the multibagger energy stock has gone up by 370% on a YTD basis.

The leading EV charger manufacturer in India, Servotech Power Systems Ltd, is pleased to announce the establishment of Servotech EV Infra Pvt Ltd, a wholly-owned subsidiary. Servotech Power Systems is setting up a wholly-owned subsidiary to enter the EV Charge Point Operator market. With over 20 years of experience, the company has been the top supplier of EV chargers to numerous well-known oil marketing companies and EV charging station providers.

Servotech Power Systems is going to be the manufacturer and supplier of EV chargers to Servotech EV Infra, acting as the CPO for these chargers. This will protect each company's distinctive interests and clearly distinguish the two roles that they play.

With a solid track record and experience in EV charging technology, Servotech EV Infra is well-positioned to capitalise on the government's aim of 30% of automobiles becoming electric by 2030, which is projected to drive significant development in the EV charging industry in the upcoming years.

Servotech EV Infra Pvt. Ltd. has a committed mission to make a significant contribution to India's e-mobility goals. In the years ahead, the company plans to establish 5000 CPO sites nationwide. This will create a strong EV charging infrastructure, which will ultimately lead to the development of sustainable transportation.

Founder and Managing Director of Servotech Power Systems Ltd., Raman Bhatia, stated, "Our Company has consistently led the way in innovating within the EV charging sector and the creation of Servotech EV Infra Pvt Ltd is a natural progression in our journey. This development will prove to be a significant game changer. Being the top EV charger manufacturer and holding a significant share of the EV charger market, we acknowledge the substantial responsibilities that accompany this position.

The recent expansion into the EV CPO business with Servotech EV Infra reflects our dedication to playing an important role in advancing the EV infrastructure landscape, catering to the growing number of EVs in the country. This subsidiary seamlessly integrates with our mission of providing reliable and accessible charging solutions, addressing the critical need for a well-developed charging network to support the EV market and we are optimistic that our efforts will contribute significantly to completing this mission, solidifying our position as a prominent player in India's sustainable and thriving EV ecosystem."

The share allocation committee of the firm has authorised the distribution of 15 lakh company shares to promoter Raman Bhatia, according to the small-cap stock's most recent exchange disclosure. According to data accessible from Indian stock markets, the promoter has been assigned 6,75,06,900 shares or 30.45% of the company's total paid-up capital.

Following receipt of the proposal from the FII headquartered in Mauritius, the organisation has accepted the allotment of 15 lakh company shares to AG Dynamics Funds Limited. The company's share allotment committee awarded 15 lakh shares at a price of Rs 82 each. In addition to AG Dynamics, 15 lakh firm shares at a price of Rs 82 have been authorised to Forbes EMF and Minerva Ventures Fund.The small-cap firm announced the sale of preferential issues to generate funds of Rs 73.80 crore. The price per share of the preferred issuance was Rs 82.

Servotech Power Systems' shares were trading at Rs 76 a share on Monday. The stock has produced a multibagger return of 369.43% year-to-date (YTD) and 362.57% in a single year.