Transaction Details

  • Target Entity: Hurricane Windfarms Private Limited (HWPL)
  • Shares Acquired: 1,10,999 (One Lakh Ten Thousand Nine Hundred and Ninety-Nine) Equity Shares
  • Face Value: INR 10/- per share
  • Acquisition Price: INR 525 per share
  • Total Consideration: INR 5,82,74,475 (calculated as 110,999 shares × ₹525)
  • Payment Method: Cash consideration
  • Resulting Ownership: 74% shareholding in HWPL
  • Status Change: HWPL becomes a subsidiary of Maxgrow India Limited

Target Company Background

  • Date of Incorporation: February 9, 2011
  • Business: Generating and selling power through wind mills
  • Industry: Renewable Energy
  • Geographic Presence: India

Financial Performance of Hurricane Windfarms

  • FY 2023-24 Turnover: INR 21,030,510
  • FY 2024-25 Turnover: INR 21,532,870
  • FY 2025-26 Turnover: INR 26,912,000

Transaction Rationale

The acquisition is intended to generate synergies by combining Hurricane Windfarms' renewable energy and metal trading activities with Maxgrow India's existing capabilities, customer relationships, and market access. It is expected to support business growth, broaden the Company's offerings, and create opportunities for cross-selling and operational efficiencies.

Regulatory Aspects

  • Related Party Transaction: No
  • Governmental/Regulatory Approvals Required: Not Applicable
  • Time Period for Completion: Not applicable (transaction completed)
  • Arm's Length Transaction: Confirmed as not a related party transaction

Compliance References

  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Regulation 30
  • SEBI Circular No SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
  • Schedule III, Part A of SEBI Listing Regulations