Smallcap Renewable Energy Firm Sees 5% Share Price Surge on New Venture Announcement

RDB Infrastructure and Power Enters New Venture, Shares Surge 5 Percent

RDB Infrastructure and Power, a small-cap company, saw its shares rise 5 percent to hit the upper circuit in Friday's trade following the announcement of a new venture. The stock was quoted at Rs 37.53 per share at around 2:20 pm on the BSE, up 5 percent.

The company has formed a new entity, RDB Ergoflex LLP, with a 51 percent stake, marking its entry into the furniture manufacturing segment. According to an exchange filing, the proposed venture will focus on providing interior solutions, including home décor, office furniture, and institutional furniture.

RDB Infrastructure and Power has a diverse presence across various sectors, including packaging, renewable energy, power, and telecom transmission equipment, retail, logistics, and real estate. The company has also implemented key leadership changes within the organisation.

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In a previous development, RDB Infrastructure and Power had partnered with Samvik Power Private Limited to receive a Notice of Award for the allocation of an industrial plot in Nava Raipur Atal Nagar for solar cell manufacturing.

Note: The table above highlights the allocation of an industrial plot by RDB Infrastructure and Power in partnership with Samvik Power Private Limited.