Transaction Details
Investment Structure: SPR Auto Technologies Limited has entered into a Share Subscription Agreement (SSA) and Shareholders' Agreement (SHA) with Sunsure Solarpark Forty Private Limited ("Sunsure Solarpark") and Sunsure Energy Private Limited ("Sunsure Energy") on August 25, 2026.
Investment Amount: Aggregate investment of up to ₹6,00,00,000 (Indian Rupees Six Crore only)
Equity Stake: Subscription to equity shares representing approximately 23.21% of the paid-up equity share capital of Sunsure Solarpark on a fully diluted basis
Payment Structure: Investment payable in two tranches:
- First tranche: ₹90,00,000 to be invested on or before September 24, 2026 (30 days from execution date), subject to completion of conditions and closing actions specified in SSA
- Second tranche: ₹5,10,00,000 payable upon receipt of Second Tranche Subscription Notice from Sunsure Solarpark
Valuation Basis: Based on fair market value of Equity Shares as per valuation report to be obtained under Applicable Law
Target Company Details
Name: Sunsure Solarpark Forty Private Limited
Status: Wholly owned subsidiary of Sunsure Energy Private Limited
Capital Structure:
- Authorised share capital: ₹10,00,000 divided into 1,00,000 equity shares of ₹10 each
- Paid-up share capital as on execution date: ₹1,00,000 divided into 10,000 equity shares of ₹10 each
Operational Status: Has not yet commenced commercial operations
Turnover: Nil
Date of Incorporation: January 8, 2025
Country of Presence: India
Related Party Status
The proposed acquisition is not a related-party transaction. The promoter, promoter group and group companies of SPR Auto Technologies Limited have no interest in the proposed acquisition.
Industry Classification
Renewable energy and power generation industry
Purpose and Rationale
Investment is for the purpose of a group captive solar power project, in accordance with the Electricity Act, 2003. Specific objectives include:
- Meeting green energy needs
- Optimising energy costs
- Complying with regulatory requirements for captive power consumption under electricity laws
Power Purchase Agreement
SPR Auto Technologies Limited has simultaneously entered into a Power Purchase Agreement dated August 25, 2026 with Sunsure Solarpark for procurement of solar power from the project for the Company's manufacturing facility at Pathredi, Rajasthan.
Regulatory Approvals
No governmental or regulatory approvals required for the acquisition (Not Applicable)
Additional Information
Disclosure Reference: SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Website Upload: The intimation is being uploaded on the Company's website at https://shrirampistons.com