Pennar Industries has executed a joint venture agreement with
Zetwerk Manufacturing Businesses and Others on 31 December 2024 for incorporation of a joint venture company.
The proposed joint venture company will be formed to carry on the
business of manufacturing and sale of solar modules, including the
development and operation of the manufacturing unit.
The shareholding in the proposed joint venture company is as
under:
1. Zetwerk Manufacturing Businesses - 50.1%
2. Pennar Industries - 45.0%
3. Others - 4.9%