Grew Energy and SEIL Approve Merger to Expand Solar Manufacturing Capacity

The boards of Grew Energy and Shanti Educational Initiatives Ltd (SEIL) have approved a merger as part of a group restructuring plan. Under this, SEIL shareholders will receive shares in Grew Energy based on a specified exchange ratio. Grew Energy, a Chiripal Group venture, operates a 6.5 GW solar PV module plant in Rajasthan with plans to expand to 11 GW and is establishing an 8 GW solar PV cell and ingot-wafer facility in Madhya Pradesh. The merger aims to strengthen the group's solar manufacturing capacity and support sustainable growth.