Transaction Details
The Company entered into a Share Subscription and Shareholders' Agreement and Power Purchase Agreement with Constronics Energy Solution Private Limited (SPV) on August 20, 2026 to acquire 18.01% of the share capital.
Target Entity Information
Name: Constronics Energy Solution Private Limited
Date of Incorporation: December 03, 2024
Industry: Solar power
Country of Presence: India
Turnover History:
- FY 2025-26: ₹NIL
- FY 2024-25: ₹NIL
- FY 2023-24: ₹NIL
Transaction Structure
Consideration Type: Cash
Cost of Acquisition: ₹1,61,70,000 (₹1.62 crore)
Percentage of Shareholding Acquired: 18.01%
Completion Date: August 20, 2026
Regulatory and Compliance Aspects
Related Party Transaction: No
Promoter/Promoter Group Interest: None
Governmental/Regulatory Approvals Required: Not Applicable (NA)
Arm's Length Transaction: Confirmed as not related party
Purpose and Impact
The acquisition is made to comply with minimum shareholding requirements under the Electricity Act, 2003 and related rules and regulations. The investment enables procurement of renewable energy for the company's consumption over a 25-year tenure, providing long-term tariff visibility and optimization of power costs.
Additional Information
The disclosure was made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The intimation has been hosted on the company website at www.elgi.com.
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