Calcorp Limited (CASH) has announced plans to fully acquire its associated company, Helios Resol Technology (Pvt.) Limited, a Special Economic Zone-based venture aiming to manufacture solar modules, batteries, and inverters, subject to shareholder approval.
The listed company announced in its notice to the Pakistan Stock Exchange (PSX) on Friday.
The company said that its Board of Directors, in a meeting held on September 4, reviewed the proposal of investment in the shares of Helios Resol Technology (Pvt.) Limited (Helios) and decided to recommend that the matter be placed before the general meeting for approval of the shareholders as a special resolution.
“Subject to completion of legal and regulatory requirements, Calcorp will acquire 50,000 ordinary voting shares of Helios, which constitute 100% of its shareholding,” read the notice.
Calcorp shared that the shares are proposed to be acquired for a total cost of Rs100,000, i.e. Rs2 per share.
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Although Helios has yet to commence operations, the company has already secured two acres of land in Bin Qasim Industrial Park - Special Economic Zone (BQIP-SEZ) and paid Rs35 million to the Special Economic Zone Authority (SEZA) as its first instalment.
As of June 30, 2025, Helios had incurred capital work-in-progress of Rs1.7 million.
“Helios intends to produce/assemble photovoltaic modules, battery systems, and inverters/ancillaries,” Calcorp said.
Helios will also enjoy a 10-year tax-free status, effective from the date its commercial operations are certified by the SEZ Developer.
“The date and venue of the Extraordinary General Meeting will be announced in due course,” Calcorp said.
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