Board Approval Details

The Board of Directors approved the proposed acquisition and holding of shares in AMPYR Renewable Energy Resources Twelve A Private Limited at its meeting held on Thursday, September 17, 2026. The meeting commenced at 11:41 a.m. and concluded at 12:01 p.m.

Investment Terms

  • Aggregate consideration not exceeding ₹70,00,000/- (Rupees Seventy Lakhs only)
  • Acquisition of shares from existing shareholder(s)
  • Investment to be made for availing renewable energy under group captive open access arrangement
  • Definitive agreements to be executed with AMPYR

Target Entity Details

AMPYR Renewable Energy Resources Twelve A Private Limited

  • Subsidiary of AMPYR India Asset Holdings Two Pte. Ltd., Singapore
  • Incorporated on November 01, 2023
  • Country of presence: India
  • Industry: Renewable Energy Industry - Solar Power Generation
  • Project: Solar power project forming part of solar park at Mhasale, Taluka Sakri, District Dhule, Maharashtra

Financial Information of Target Entity

As on March 31, 2026:

  • Net worth: ₹9.99 Crore
  • Turnover: ₹23.26 Crore

Turnover history:

  • FY 2025-26: ₹23.26 Crore
  • FY 2024-25: NIL
  • FY 2023-24: NIL

Note: Plant commenced commercial operations on May 27, 2025, hence no revenue for FY 2023-24 and FY 2024-25.

Shareholding Structure

Upon completion of transaction:

  • Equity Share Capital: Up to 1.01%
  • Compulsorily Convertible Preference Shares: Up to 3.60%

Transaction Purpose and Impact

The investment is proposed to:

  • Acquire requisite shareholding to participate in group captive arrangement under Electricity Act, 2003
  • Enable the Company to procure solar power for its Tarapur plant under group captive open access arrangement
  • The investment will not result in any change in control or management of the target entity

Regulatory Aspects

  • Does not fall within related party transactions
  • Promoter, promoter group and group companies have no interest in the entity being acquired
  • No governmental or regulatory approval required other than corporate approvals under Companies Act, 2013

Transaction Timeline

The acquisition is proposed to be completed upon execution of Share Purchase Agreement and Shareholders' Agreement.

Additional Information

This intimation is being uploaded on Company's website at www.valiantlabs.in. Filed by Akshay Gangurde, Company Secretary & Compliance Officer.