Disclosure under Regulation 30 of SEBI Listing Regulations - Acquisition
Oswal Pumps Limited (Scrip Code: 544418) has completed the acquisition of additional equity shares in Walso Solar Solution Private Limited, making it a subsidiary effective June 08, 2026.
Acquisition Details
- Date of Acquisition: June 08, 2026
- Target Entity: Walso Solar Solution Private Limited (CIN: U25110HR2024PTC120909)
- Shares Acquired: 13,07,000 Equity Shares of Face Value ₹10 each
- Acquisition Method: Allotment under rights issue
- Consideration: ₹3,65,96,000 (₹3.66 crore) at issue price of ₹28 per share
- Percentage Acquired: 8% stake in this transaction
Ownership Structure Impact
- Pre-acquisition Status: Associate company
- Post-acquisition Status: Subsidiary with 51% ownership
- Total Paid-up Equity Capital (post-allotment): ₹9,30,70,000 (₹9.31 crore)
- Promoter Group Holding: Mr. Narinder Nath Goela holds 4.30% equity share capital post-acquisition
Transaction Classification
- Related Party Transaction: Yes, conducted at arm's length
- Government Approvals: Not required
Target Company Background
- Incorporation Date: April 23, 2024
- Industry: Manufacturing of mounting structures, BOS and essential components for Turnkey Solar Pumping Systems
- Geographic Presence: India
- Financial Performance:
- FY 2025-26: Turnover ₹1702.65 million
- FY 2024-25: Turnover ₹720.54 million
- FY 2023-24: Not applicable (company incorporated in 2024)
Strategic Rationale
The acquisition supports Oswal Pumps' vertical integration strategy, enhancing capabilities in:
- Manufacturing of components for pumps
- Production of solar modules for solar-powered pumps
- Design and development of new products
- Operational cost optimization and margin improvement