Date: October 07, 2026

Acquisition Details

MITCON Sun Power Limited, a wholly owned material subsidiary of MITCON Consultancy & Engineering Services Limited, executed a Share Purchase Agreement on October 07, 2026 for the purchase of 12,04,999 Equity Shares of ₹10 each of MITCON Solar Alliance Limited from its existing shareholders.

Transaction Terms:

  • Aggregate consideration: ₹2,40,49,990 (Rupees Two Crores Forty Lakhs Forty-Nine Thousand Nine Hundred and Ninety only)
  • Payment method: Cash consideration
  • Shares acquired: 12,04,999 equity shares of face value ₹10 each
  • Percentage stake acquired: 26.72%

Ownership Impact:

  • Pre-acquisition holding: 47.28%
  • Post-acquisition holding: 74%
  • Result: MITCON Solar Alliance Limited becomes a subsidiary of MITCON Sun Power Limited and a step-down subsidiary of MITCON Consultancy & Engineering Services Limited

Target Company Details:

  • Name: MITCON Solar Alliance Limited
  • Industry: Solar Power Generation
  • Business focus: Generating, transmitting, dealing, trading, and distributing energy from solar, wind, hydro power, and biomass sources; manufacturing and trading renewable energy equipment
  • Geographic presence: India only

Financial Information of Target:

  • Authorized Share Capital: ₹10,00,00,000
  • Paid-up Share Capital: ₹9,51,00,000
  • Turnover history:
  • Year ended March 31, 2026: ₹6,70,39,000
  • Year ended March 31, 2025: ₹3,31,80,000
  • Year ended March 31, 2024: ₹3,66,56,000

Regulatory and Transaction Details:

  • Related party transaction: No
  • Promoter/promoter group interest: None
  • Government/regulatory approvals required: None
  • Expected completion timeline: Within 60 days, subject to compliance of Conditions Precedent by the Parties to Share Purchase Agreement dated October 07, 2026
  • Transaction executed at arm's length

Disclosure Compliance:

Not Specified Sections

No material disclosures under the following sections: KMP/Board/Auditor Changes, Dividend Declaration, Board Meeting Outcomes, Financial Results, Auditor's Report, Media Release/Investor Communication, Other Operational/Legal/Strategic Disclosures.