Swelect Energy Systems share price jumped 5% in early trade on Thursday after the renewable energy company announced securing of order in its solar business and raising of funds through debt. The small-cap stock, Swelect Energy shares were locked-in at 5% upper circuit of ₹546.60 apiece on the BSE.
The renewable energy sector player Swelect Energy Systems said it secured orders over 150 MW for its high efficiency TOPCon Bi-facial solar PV modules.
“SWELECT’s commitment to excellence is reflected in its 100% success rate in module testing, with every unit passing rigorous evaluations by TÜV and other accredited testing laboratories on the first attempt. To further validate long-term performance and durability, the modules, which are backed by third-party re-insurance, are undergoing Extended Reliability Testing (ERT),” Swelect Energy Systems said in a regulatory filing on March 12.
Additionally, SWELECT Group has raised ₹290 crore funding through Non-Convertible Debentures (NCDs) via a private placement with India Infradebt Limited.
This strategic move, secured against a portion of its Solar Power Generating Assets, has unlocked ₹260 crore in cash collaterals — funds that will now be reinvested to scale up SWELECT’s IPP portfolio to 1 GW by 2026-27, the company added.
“Our 100% testing success further strengthens our resolve to deliver highest quality solar solutions. The successful NCD funding positions us well to accelerate our expansion plans and contribute meaningfully to India’s clean energy future,” said R. Chellappan, Managing Director, SWELECT Energy Systems Ltd.
Swelect Energy Stock Price Trend
Swelect Energy share price has gained 10% in one week, but has dropped 19% in one month. On a year-to-date (YTD) basis, the small-cap stock has fallen 46%. Swelect Energy shares have declined 57% in the past six months, while the stock has delivered stellar 92% returns in two years.
At 10:15 AM, Swelect Energy shares were trading 2.87% higher at ₹535.55 apiece on the BSE.
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