Share Subscription Agreement executed for proposed 26% equity stake in Agganga Private Limited
Minda Corporation has executed a Share Subscription Agreement with Avener Green Private Limited and Agganga Energy Private Limited.
By ScoutQuest · · 2 min read
- Consideration
- cash, up to Rs. 112.20 lacs
- Proposed Holding
- 26% in the equity shares of Agganga
- Indicative Time Period
- approximately 6 months
What was announced
Minda Corporation has executed a Share Subscription Agreement with Avener Green Private Limited and Agganga Energy Private Limited. The details were disclosed under an annexure to the letter, covering the target entity, the consideration, the holding that will result, and the stated objective.
About the target entity
- Name: Agganga Private Limited, with its registered office at E-76, Sushant Lok-3, Sector-57, Gurgaon – 122001
- Business: implementing, operating and maintaining solar photovoltaic power plant energy projects
- Industry: Renewable Energy
- Country in which Agganga has presence: India
- Turnover of last three years: 2025-26: Nil; 2024-25: NA; 2023-24: NA
Key numbers from the update
- Consideration: cash consideration, up to Rs. 112.20 lacs
- Holding after completion: 26% of the equity shares of Agganga
- Agganga turnover as on 31.03.2026: Rs. Nil
- Agganga profit after tax as on 31.03.2026: Rs. 0.03 lacs
- Indicative time period for completion of the acquisition: approximately 6 months
Structure and parties
- The consideration is in cash.
- The proposed transaction is not a Related Party Transaction, and neither the promoter, promoter group nor group companies of the company have any interest in the entity being acquired.
- Governmental or regulatory approvals required: Not Applicable.
Stated objective
The update states the objective is to reduce the power cost by way of shifting towards solar and wind power energy, which are cost effective and environment friendly.
How a reader may look at it
- This is a proposed investment in a renewable energy entity, with the company stating it will be holding 26% of the equity shares of Agganga on completion.
- The consideration of up to Rs. 112.20 lacs is the cash outgo indicated for the stake.
- The target's turnover is shown as Rs. Nil as on 31.03.2026, with profit after tax of Rs. 0.03 lacs, and turnover of the last three years shown as Nil for 2025-26 and NA for 2024-25 and 2023-24.
- Completion is indicated at approximately 6 months, so the holding is described as arising on completion of the proposed investment.
- The stated purpose links the investment to lowering power cost through solar and wind energy.
The announcement is an intimation of the execution of the Share Subscription Agreement, and the annexure sets out the details listed above.
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Minda Corp fell to day's low, down around 4.5%, before recovering slightly
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More numbers
- Consideration for the proposed investmentUpto Rs. 112.20 lacs
- Holding in Agganga on completion of proposed investment26%
- Agganga turnover as on 31.03.2026Rs. Nil
- Agganga Profit After Tax as on 31.03.2026Rs. 0.03 lacs
- Indicative time period for completionApproximately 6 months
- Agganga turnover of last three years (2025-26)Nil
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