Electrical Equipment Stock In Spotlight As Subsidiary Signs MoU With NPCL To Scale EV Charging Infrastructure

In the upcoming session, Servotech Renewable Power System Ltd., a small-cap company in the electrical equipment sector, is likely to be the focus because its subsidiary Incharz (Servotech EV Infra), one of India's fastest-growing charge point operators and developers of EV charging infrastructure, has signed a memorandum of understanding (MoU) with Noida Power Company Limited (NPCL), a joint venture between the Greater Noida Industrial Development Authority and the RP-Sanjiv Goenka Group, to significantly broaden the EV charging infrastructure in Greater Noida.

Both organizations will collaborate to discover and construct EV charging stations in strategic areas, including hospitals, commercial complexes, residential communities, and corporate buildings as part of this agreement. In order to cut down on the time and expense of infrastructure setup, NPCL will facilitate site recommendations and seamless collaboration with DISCOMs.

Prem Prakash, CEO, Incharz, said "This partnership with NPCL marks a defining milestone in our journey toward building a smart and scalable EV charging network throughout the nation. It aligns perfectly with Servotech's larger mission to solarise India and transform its cities into clean energy ecosystems. By accelerating infrastructure development and ensuring last-mile connectivity for EV users, we're not just expanding our footprint we're powering a future where electric vehicles will dominate the roads. Our aim is not just carbon neutrality, but to actively contribute to India's transition toward becoming a carbon-negative nation. This MoU is a bold step in that direction."

Sanket Srivastava, Head, PMS & Sustainability, NPCL, said, "We're pleased to collaborate with Servotech EV Infra to strengthen the clean mobility infrastructure in Greater Noida. As we continue to promote green energy adoption, this collaboration is going to play a key role in making EV charging more accessible, reliable, and widespread."

Meanwhile, Servotech Renewable Power System Limited has announced key decisions taken during its Board Meeting held on June 27, 2025. The company approved the conversion of 10,00,000 warrants into an equal number of equity shares at an issue price of Rs 83.40 per share inclusive of a premium of Rs 82.40, aggregating Rs 6.25 crore.

In accordance with the SEBI (ICDR) Regulations of 2018, these shares have been allocated under a preferential allocation plan to Coeus Global Opportunities Fund, a non-promoter entity. The company's paid-up share capital has grown from Rs 22.48 crore to Rs 22.58 crore as a result of this allocation.

Subject to shareholder approval, the Board also named Dr. Yogita Patra as an Additional Director in the role of Non-Executive Woman Independent Director.

Additionally, under Sections 179 and 180 of the Companies Act, 2013, the Board authorized plans for establishing charges and secure borrowings up to Rs 600 crore. These recommendations would be given to shareholders by postal vote. Additionally, the Board approved the regularization of previous appointments, such as Mr. Digvijay Kapoor and Mr. Girish Kumar Ahuja, as directors. For the next postal ballot, Mr. Debabrata Deb Nath was designated as the scrutinizer to supervise the electronic voting procedure.