Acquires 74% of Hurricane Windfarms for cash, making it a subsidiary
Maxgrow India Ltd has acquired 1,10,999 equity shares of Hurricane Windfarms Pvt Ltd at INR 525 per share, in cash.
By ScoutQuest · · 2 min read
- Stake Acquired
- 74% of Hurricane Windfarms Pvt Ltd, making it a subsidiary
- Shares Acquired / Price
- 1,10,999 equity shares at INR 525 per share, in cash
- Target Turnover
- INR 269.12 lakhs for FY2025-26
Maxgrow India Ltd has informed the exchanges about an investment in Hurricane Windfarms Private Limited (HWPL) that makes HWPL a subsidiary of the company.
What was acquired
- 1,10,999 equity shares of face value INR 10/- each of Hurricane Windfarms Private Limited.
- The shares were acquired at INR 525 per share, and the consideration is cash.
- The acquisition gives the company 74% of the shareholding of HWPL, which is why HWPL becomes a subsidiary.
About the target
- HWPL is engaged in generating and selling power through wind mills, and belongs to the renewable energy industry.
- It is incorporated in India, with date of incorporation 09/02/2011.
- Turnover of HWPL for the financial year ended March 31, 2026 was INR. 269.12 lakhs.
- Turnover for the last three years, as given in the update (INR in 000): 2025-26: 26,912; 2024-25: 21,532.87; 2023-24: 21,030.51.
Why the company says it is doing this
- The acquisition is intended to generate synergies by combining the target's renewable energy and metal trading activities with the company's existing capabilities, customer relationships and market access.
- It is expected to support business growth, broaden the company's offerings and create opportunities for cross-selling and operational efficiencies.
Other details in the update
- The acquisition does not fall within related party transactions, and the promoter, promoter group and group companies have no interest in the entity being acquired.
- The consideration is cash.
- No governmental or regulatory approvals are required for the acquisition, and the indicative time period for completion is marked not applicable.
What a retail reader can take away
- The key figures to note are the 74% stake, the price of INR 525 per share, the 1,10,999 shares acquired and the target's turnover of INR 269.12 lakhs for the year ended March 31, 2026.
- The update states that HWPL becomes a subsidiary of the company, meaning it moves into the company's fold rather than being a minority investment.
Also from Maxgrow India
Two Additional Non-Executive Independent Directors Appointed
15 Oct 2026
Board appoints Company Secretary, effective 15th October 2026
15 Oct 2026
Board approves Company Secretary and Non-Executive Independent Directors
15 Oct 2026
More numbers
- Equity shares of HWPL acquired1,10,999
- Face value per equity share of HWPLINR 10/-
- Price at which shares were acquiredINR. 525 per share
- Shareholding of HWPL acquired74%
- HWPL turnover FY ended March 31, 2026INR. 269.12 lakhs
- HWPL turnover 2025-26 (INR in 000)26,912
- HWPL turnover 2024-25 (INR in 000)21,532.87
- HWPL turnover 2023-24 (INR in 000)21,030.51
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