Saatvik acquires 80% in Melcon, enters transformer manufacturing
Saatvik Green Energy Limited has signed a Share Purchase Agreement to acquire an 80% equity stake in Melcon Transformers and Electricals Private Limited, marking its entry into power equipment manufacturing as it expands beyond solar photovoltaic modules. The acquisition, valued at Rs 24 million, will be completed through cash consideration and is expected to close within 30 days. Jaipur-based Melcon, incorporated in 2005, manufactures power and distribution transformers up to 10 MVA, 33 kV class,…