Standard Engineering Acquires 33.55% Stake in GScale Energy

Date: July 30, 2026

Acquisition Completion Details

Standard Engineering Technology Limited has successfully completed the acquisition of 33.55% equity stake in M/s. GScale Energy Private Limited as of July 30, 2026.

Transaction Terms

• The entire cash consideration has been remitted in accordance with the terms of the Shareholders Agreement and Share Subscription Agreement
• GScale Energy Private Limited allotted equity shares to the Company on July 30, 2026
• The Company now holds 33.55% of the paid-up equity share capital of GScale Energy Private Limited
• GScale Energy Private Limited has become an Associate Company of Standard Engineering Technology Limited effective July 30, 2026

Future Transaction Components

The balance consideration amount shall be discharged by way of share swap through the issuance and allotment of equity shares of the Company. This would result in GScale Energy Private Limited becoming a subsidiary of the Company, subject to:

• Receipt of requisite statutory and regulatory approvals
• Shareholders' approvals as applicable
• Fulfilment of terms and conditions stipulated in the definitive agreements