Target Entity

KPI Green Energy Limited has entered into a binding offer to acquire two target entities:

  • Alfanar Energy Private Limited (AEPL)
  • Netra Wind Private Limited (NWPL)

Type of Deal

The deal is for the acquisition of 100% of the equity and all other equity-like instruments of both AEPL and NWPL. It is not a related party transaction.

Stake/Capacity

The target entities own and operate wind power projects with the following capacities:

  • Alfanar Energy Private Limited (AEPL): 301.4 MW
  • Netra Wind Private Limited (NWPL): 206.5 MW
  • Total Aggregate Capacity: 507.9 MW

The projects are located in Bhuj, Gujarat, India.

Deal Value

The acquisition is for an Enterprise Value of Rs. 2,410 Crores.

Consideration Structure

The consideration will be paid entirely in Cash.

Funding Source

The disclosure does not specify the funding source for the cash consideration (e.g., internal accruals, debt, equity).

Financial Impact (Target Financials)

The document provides a three-year turnover history for the target companies:

Alfanar Energy Private Limited (AEPL):

  • FY 2024-25: Rs. 168.47 Crores
  • FY 2023-24: Rs. 189.18 Crores
  • FY 2022-23: Rs. 192.69 Crores

Netra Wind Private Limited (NWPL):

  • FY 2024-25: Rs. 108.98 Crores
  • FY 2023-24: Rs. 67.06 Crores
  • FY 2022-23: Rs. NIL (Not operational in this year)

The financial impact of the acquisition on KPI Green Energy (e.g., accretion/dilution, synergy expectations) is not disclosed.

Timeline

The proposed transaction is expected to be completed on or before February 28, 2027. This is subject to the satisfaction or waiver of applicable conditions precedent and the execution of definitive transaction documents.

Strategic Rationale

The acquisition is intended to expand and strengthen the renewable energy portfolio of KPI Green Energy Limited through the acquisition of operating wind power assets.

Approval Status

The acquisition is currently at the binding offer stage. It is subject to several conditions precedent, including:

  • Execution of definitive transaction documents.
  • Receipt of requisite lenders' approvals.
  • Receipt of requisite contractual approvals.
  • Receipt of requisite statutory and regulatory approvals.

Reference Regulation

The announcement is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the SEBI Master Circular dated January 30, 2026 (HO/49/14/14(7)2025-CFD-POD2/I/3762/2026).