Karachi: Calcorp Limited’s Board of Directors has recommended a full acquisition of Helios Resol Technology (Pvt.) Limited, as revealed in a meeting held on September 4, 2025. The Board’s decision to move forward with the proposal was made with the aim of presenting it for shareholder approval in an upcoming general meeting through a Special Resolution.

The proposed transaction involves Calcorp acquiring all 50,000 ordinary voting shares of Helios, equating to a complete takeover. The acquisition is set at a total cost of Rs. 100,000, with each share priced at Rs. 2. Completion of this transaction is contingent on fulfilling legal and regulatory prerequisites.

Helios, which is registered in the Special Economic Zone, has not yet begun its business operations. It has secured a two-acre land allocation in the Bin Qasim Industrial Park – Special Economic Zone after meeting the necessary conditions set by the Special Economic Zone Authority earlier this year. The company’s business focus will be on producing and assembling photovoltaic modules, battery systems, and inverters.

Financially, Helios has already made an initial payment of Rs. 35 million to the Special Economic Zone Authority and reported a Capital Work In Progress amounting to Rs. 1.70 million as of June 30, 2025. Notably, Helios is set to benefit from a ten-year tax exemption, effective from the date when commercial operations commence, as certified by the SEZ Developer.

According to information available from the Pakistan Stock Exchange (PSX), Calcorp Limited intends to keep stakeholders informed about any significant progress related to this acquisition. The date and location for the Extraordinary General Meeting, where shareholders will vote on the proposal, will be announced in the near future.