Summary of Key Information:

Nature of Filing / Announcement: Acquisition of stake in unlisted companies and disclosure under Regulation 30 of SEBI LODR

Date of Board Meeting / Approval: June 17, 2026

Meeting Time: Commenced at 03:00 PM, concluded at 03:45 PM

Corporate Actions:

Acquisition Details:

The Board of Directors approved the acquisition of stakes in two companies:

1. Terraverde Renewables Private Limited (CIN: U35105MH2025PTC440653)

  • Stake Acquired: 49% (4,90,000 equity shares)
  • Total Consideration: ₹49,00,000 (₹10.00 per share)
  • Paid-up Capital: ₹1,00,00,000 (10,00,000 equity shares of ₹10 each)
  • Call Option: Contractual right to acquire remaining 51% stake after one year from Commercial Operation Date (COD)
  • Financials (FY 2025-26): PAT loss of ₹3.62 lakhs; No income from operations
  • Incorporation Date: February 20, 2025
  • Business: Solar power plant development, erection, installation, establishment, construction, operation and maintenance, and consultancy of renewable energy power plants
  • Directors: Alok Vimalkumar Agrawal, Sandeep Vimalkumar Agrawal, Brindesh Goverdhandas Agrawal, Sanjay Puranmal Agrawal

2. Bluesky Renewables Private Limited (CIN: U35105MH2025PTC440837)

  • Stake Acquired: 49% (4,90,000 equity shares)
  • Total Consideration: ₹49,00,000 (₹10.00 per share)
  • Paid-up Capital: ₹1,00,00,000 (10,00,000 equity shares of ₹10 each)
  • Call Option: Contractual right to acquire remaining 51% stake after one year from Commercial Operation Date (COD)
  • Financials (FY 2025-26): PAT loss of ₹3.53 lakhs; No income from operations
  • Incorporation Date: February 22, 2025
  • Business: Solar power plant development, erection, installation, establishment, construction, operation and maintenance, and consultancy of renewable energy power plants
  • Directors: Vishal Vimalkuamr Agrawal, Sandeep Vimalkumar Agrawal, Brindesh Goverdhandas Agrawal, Sanjay Puranmal Agrawal

Transaction Structure:

  • Nature of Consideration: Cash
  • Agreements: Share Purchase and Shareholders' Agreement dated June 17, 2026; Call Option and Sale Agreement executed on June 17, 2026
  • Completion Timeline: Within next 30 days from June 17, 2026
  • Related Party Transaction: Not Applicable
  • Regulatory Approvals: None required

Strategic Rationale:

The acquisition is in line with the Company's strategic objective of expanding its presence in the renewable energy sector. The proposed acquisition will enable the Company to strengthen its position in the solar energy business, facilitate participation in utility-scale renewable energy projects and create long-term value through diversification into sustainable and clean energy initiatives.