GRP Limited has made a further investment in BECIS Solar 5 Private Limited (BECIS), completing its commitment for the procurement of solar power. This intimation is made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.

Nature of the Event

The company has subscribed to and been allotted 2,60,48,649 equity shares of BECIS, with a face value of ₹1 each, fully paid up. The allotment was made on a rights issue basis dated August 10, 2026.

Key Quantitative Figures

The total cash consideration for the investment is ₹2.60 crore, paid at par.

Details of the Acquired Entity

With this allotment, GRP Limited now holds 26.43% of the paid-up share capital of BECIS.

BECIS Solar 5 Private Limited Background:

  • Date of Incorporation: 8th July 2025
  • Business: The company is in the process of setting up an 8 MW solar power project located in the distribution area of Dakshin Gujarat Vij Company Limited. It is being established as a captive generating station to supply power to GRP Limited on a long-term basis.
  • Financials: BECIS has not yet commenced operations. Its turnover for the last 3 years is nil.
  • Share Capital (as on date):
  • Authorised Capital: ₹10.46 Crores, divided into 10,46,00,000 equity shares of ₹1 each.
  • Issued and Paid-up Capital: ₹9.99 Crores, divided into 9,99,00,000 equity shares of ₹1 each.
  • Country of Presence: India

Transaction Details

  • Consideration Type: Cash
  • Cost of Acquisition: ₹2.60 crores
  • Number of Shares Acquired: 2,60,48,649 Equity Shares
  • Percentage of Shareholding Acquired: 26.43%
  • Completion Date: The equity shares were allotted on August 10, 2026.

Purpose and Rationale

The investment is a strategic move to enable GRP Limited to procure solar power at a preferential tariff for its manufacturing units based in Gujarat. This is expected to reduce overall energy costs and utilize environmentally friendly renewable energy. Furthermore, the investment is in compliance with the Electricity Rules, 2005, which require a captive user (GRP) to own 26% proportionate ownership in the generating company (BECIS).

Regulatory and Governance Aspects

  • Related Party Transaction: The investment is classified as a related party transaction. However, it has been conducted on an arm's length basis.
  • Promoter Interest: None of GRP Limited's promoter, promoter group, or other group companies has any interest in this investment beyond their shareholding, if any.
  • Governmental Approvals: No governmental or regulatory approvals were required for this acquisition.

Financial and Operational Impact

The disclosure confirms the transaction is complete with the allotment of shares. The strategic objective is to secure a long-term supply of renewable energy at a preferential tariff, aiming to reduce operational energy costs.