Target Entity: SUSHMA SOLAR ENERGY PRIVATE LIMITED
Type of Deal: 100% Acquisition (Wholly Owned Subsidiary)
Stake/Capacity: 100% equity stake (10,000 equity shares of face value ₹10 each). Target entity plans to set up a solar power plant with initial capacity of 50 MW under group captive scheme.
Deal Value: ₹2,27,24,000 (Rupees Two Crore Twenty Seven Lakhs Twenty Four Thousand only)
Funding Source: Cash consideration
Financial Impact: Target entity was incorporated on May 18, 2025 with paid-up equity share capital of ₹1,00,000. It has not commenced commercial production/operation. Latest financial parameters: Turnover - Nil, PAT - Nil, Net worth - ₹0.01 crore. No disclosed financial impact on revenue, EBITDA, or margins from the acquisition.
Timeline: Acquisition will be made as per Share Purchase Agreement or other definitive agreement to be entered with selling shareholders of Sushma Solar. No specific completion date provided.
Strategic Rationale: The acquisition will result in increase of consolidated turnover of the Company, strengthen market presence in the western part of India, enhance operational efficiencies, and expand renewable energy capabilities. The target company's business involves generating, accumulating, distributing and supplying Solar Energy for its own use or for sale to Governments, State Electricity Boards, Intermediaries in Power Transmission Distribution, Companies, Industrial Units, or other energy consumers.
Approval Status: Approved by Investment Committee of Board of Directors on October 22, 2026
Reference Regulation: SEBI Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025- CFD-POD2/I/3762/2026 dated January 30, 2026
Additional Details: The acquisition does not fall within related party transactions prior to completion. The company would become a related party subsequent to completion of the proposed acquisition. No governmental or regulatory approvals required for the acquisition.
