Dehradun. The Board has approved the issue of preferential warrants to FII investors among other promoter and non-promoter group entities, subject to the approval of the members. Survatech Power Systems Limited, India’s leading EV charger manufacturer proudly announces the formation of its wholly owned subsidiary Survatech EV Infra Pvt. Ltd. With over 20 years of experience, the company has been a leading EV charger and EV charging station provider for various renowned oil marketing companies and now Survatech Power Systems is entering into the EV charge point operator business by setting up its wholly owned subsidiary. Is.
Survatech Power Systems will be manufacturing and supplying EV chargers to Survatech EV Infra and they will act as CPO for these EV chargers. This development will clearly define the different roles of the two businesses and protect their individual interests. The EV charging market is expected to grow rapidly in the coming years as the government is targeting to make 30% of all vehicles electric by 2030 and Survatech EV Infra is positioned to capitalize on this growth with its strong track record, expertise and EV charging technology. Is in good condition for.
With a dedicated mission to significantly contribute to India’s e-mobility goals, Survatech EV Infra Pvt Ltd aims to install 5000 EV charging stations across the country in the coming years, resulting in the creation of a robust EV charging infrastructure. This will lead to the development of ultimately sustainable transportation.
Commenting on the announcement, Raman Bhatia, Founder and Managing Director, Servetec Power Systems Limited, said, “Our company has consistently been at the forefront of innovation in the EV charging sector and the formation of Servetec EV Infra Pvt Ltd is a natural progression in our journey. This development will prove to be an important game changer. As a top EV charger manufacturer and holding a significant share of the EV charger market, we accept the important responsibilities that come with this position.
The recent expansion into EV CPO business with Survetec EV Infra reflects our dedication to play a vital role in driving the EV infrastructure landscape forward, catering to the growing number of EVs in the country. This subsidiary integrates seamlessly with our mission to deliver reliable and accessible charging solutions that support the EV market and address the critical need for a well-developed charging network.
And we are optimistic that our efforts will contribute significantly to achieving this mission, thereby strengthening our position as a key player in India’s sustainable and thriving EV ecosystem. Further, the Board approved the issue of preferential warrants to various promoters and non-promoters group persons, subject to the approval of the members.
The warrants will be issued to FIIs (foreign institutional investors) – AG Dynamic Funds Ltd, Minerva Ventures Fund, Koyas Global Opportunities Fund-1 and Forbes EMF, among other non-group individuals. The said warrants will also be issued to the company’s promoter Mr. Raman Bhatia. The company will raise a total of Rs 73.80 crore from the issuance of these convertible warrants.
Survatech Power Systems is an NSE-listed organization that leverages its over two decades of experience and expertise in the electronics space to develop tech-enabled EV charging solutions. The company offers an extensive range of AC and DC chargers that are compatible with multiple EVs and cater to multiple applications such as commercial and domestic.