Calcorp to acquire Helios Resol Technology

September 05, 2025 (MLN): Calcorp Limited's Board of Directors has approved a proposal to acquire 100% shareholding in Helios Resol Technology (Pvt.) Limited, a solar energy company positioned to capitalize on Pakistan's growing renewable energy sector.

Transaction Details

The proposed acquisition involves purchasing 50,000 ordinary voting shares of Helios for Rs. 100,000, valuing each share at Rs2. The transaction will be subject to shareholder approval through a Special Resolution at an upcoming Extraordinary General Meeting, the date and venue of which will be announced shortly.

Strategic Investment in Renewable Energy

Helios Resol Technology, while yet to commence commercial operations, has secured a strategic position in Pakistan's renewable energy landscape. The company is registered with the Special Economic Zone Authority and has been allocated two acres of land in the Bin Qasim Industrial Park - Special Economic Zone (BQIP-SEZ) as of February 2025.

The company plans to manufacture and assemble photovoltaic modules, battery systems, and inverters - key components in solar energy infrastructure. This positions Helios to serve Pakistan's expanding solar market as the country increasingly turns to renewable energy sources.

Financial Position and Tax Benefits

Helios has demonstrated its commitment to the project by paying Rs. 35 million as the first installment to the Special Economic Zone Authority. As of June 30, 2025, the company had invested Rs. 1.7 million in Capital Work In Progress on the project.

A significant advantage for the acquisition is Helios's ten-year tax-free status, which begins from the date commercial operations are certified by the SEZ Developer. This tax exemption could provide substantial financial benefits to Calcorp's investment over the coming decade.

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