Board Approval Details
The Committee of Directors approved the investments at its meeting held on 4th June 2026 from 5:00 P.M. to 6:00 P.M.
Investment Details - DynoSpark Private Limited
- Target Entity: DynoSpark Private Limited
- Financial Details (FY ended 31st March 2026): Turnover - Nil; Profit after tax - ₹(0.66) Lakh; Net worth - ₹0.34 Lakh
- Industry: Power generation using Solar energy
- Investment Purpose: Setup 25 MW (AC)/36.25 MW (DC) Solar Power Plant with 20 MWh Battery Energy Storage System (BESS) at Udaipur Unit under captive power route
- Project Implementor: Oriana Power Limited
- Investment Structure: 26% equity share acquisition
- Consideration: Cash consideration up to ₹16 Crore
- Completion Timeline: By 31st October 2026
- Incorporation Date: 27th July 2025
- Geographic Presence: India
- Related Party Transaction: No
- Government Approvals: Not Applicable
Investment Details - Elevate Solar Energy Private Limited
- Target Entity: Elevate Solar Energy Private Limited
- Financial Details: Not applicable (company recently incorporated)
- Industry: Power generation using Solar energy
- Investment Purpose: Setup 17.14 MW (AC)/24 MW (DC) Solar Power Plant at Durg Unit under captive power route
- Project Implementor: M/s Evolve Energy Group
- Investment Structure: 26% equity share acquisition
- Consideration: Cash consideration up to ₹8 Crore
- Completion Timeline: By 31st October 2026
- Incorporation Date: 16th January 2025
- Geographic Presence: India
- Related Party Transaction: No
- Government Approvals: Not Applicable
Strategic Rationale
The company has been continuously exploring the possibility of increasing sourcing of Renewable Power to reduce the cost of power at its various plant locations. These investments will enable the company to get solar power at very competitive market rates through the captive power route as per Indian Electricity Laws.
Total Investment Commitment
Combined investment of up to ₹24 Crore across both SPVs.
Document Signatory
Amit Chaurasia, Company Secretary