Target Entity: Rays Green Energy Manufacturing Private Limited
Type of Deal: Joint Venture (50% acquisition)
Stake/Capacity: 50% of the paid-up equity share capital
Deal Value: The first tranche payment was ₹26,82,16,200 (₹26.82 crore). The total committed equity subscription is up to ₹100,00,00,000 (₹100 crore), with a balance of ₹73,17,83,800 (₹73.18 crore) remaining.
Funding Source: Not explicitly disclosed in the document.
Financial Impact: Not disclosed in the document. No information provided on expected revenue contribution, EBITDA impact, margin profile, or accretion/dilution.
Timeline: The first tranche was paid on October 30, 2026, and shares were allotted on October 31, 2026. The timeline for the remaining balance payment is "in accordance with the terms of the SSA and JVA."
Strategic Rationale: Not disclosed in this specific update. The rationale was presumably part of the earlier intimation dated September 7, 2026.
Approval Status: The transaction is proceeding as per the previously executed Securities Subscription Agreement (SSA) and Joint Venture Agreement (JVA).
Reference Regulation: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Regulation 30 read with Schedule III.
