Nestlé India Limited has executed a Share Subscription and Shareholders' Agreement for the acquisition of a 26% equity stake, on a fully diluted basis, in Radiance KA Sunshine Seven Private Limited (CIN: U40106MH2021PTC365018).
Transaction Details
- Investment Purpose: To establish captive renewable energy power plant to cater to the power requirements of one of Nestlé's manufacturing facilities
- Strategic Alignment: Initiative supports the Company's commitment to increasing renewable energy share in operations and sustainability objectives
- Regulatory Benefit: Enables the Company to meet requirements of a "captive user" under Indian electricity laws and regulations
- Consideration: Cash consideration of ₹7,61,25,000 (Rupees seven crore sixty-one lakh twenty-five thousand only), funded through internal accruals
- Share Details: Subscription to 76,12,500 equity shares at par value of ₹10 per share
- Completion Timeline: Within 30 days from execution of agreement, or by mutually agreed date
Target Company Information
- Name: Radiance KA Sunshine Seven Private Limited
- Business: Generation and sale of renewable energy from solar power plants
- Ownership: Wholly owned subsidiary of Radiance Renewables Private Limited
- Capacity: Owns and operates solar power plant of 17.5 MW AC / 26.25 MWp DC capacity at Koppal, Karnataka
- Incorporation Date: 2nd August 2021
- Geographic Presence: India
Financial Performance of Radiance KA
- FY 2025-26 Turnover: ₹15.8 crore
- FY 2024-25 Turnover: ₹15.76 crore
- FY 2023-24 Turnover: ₹17.09 crore
Post-Acquisition Structure
- Shareholding: 26% of equity share capital on fully diluted basis
- Control: Not specified in disclosure
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