Share Allotment cum Shareholders Agreement executed for 12 GWh BESS joint venture
Share Allotment cum Shareholders Agreement executed on October 15, 2026 for the BESS joint venture.
By ScoutQuest · · 2 min read
- JV Facility Capacity
- 12 GWh BESS manufacturing facility, including a 6 GWh first phase plant
- Phase I Timeline & Location
- expected in FY 27-28 at Seetharampur, Telangana
- Equity Terms
- RCT India to be allotted equity aggregating to 15% of the JV's issued and paid-up equity share capital, in four tranches, with a right,…
The agreement
On October 15, 2026, Premier Battery Technologies Private Limited (PBTPL), a wholly owned subsidiary of the Company, RCT Nexor Energy Private Limited (formerly RCT Energy India Private Limited), part of the RCT Group, Germany, and Premier Energies Storage Solutions Private Limited (PESSPL, the joint venture company) executed a Share Allotment cum Shareholders Agreement. The agreement sets out the terms governing the joint venture. The Company had earlier informed, by its letter dated September 10, 2026, that PBTPL had entered into a binding Term Sheet on 10th September, 2026 with RCT Energy India Private Limited for establishing PESSPL as a strategic joint venture company of PBTPL and RCT India.
What the joint venture will do
- Establish, construct, install and commission a semi-automated and/or fully automated Battery Energy Storage Systems (BESS) manufacturing facility.
- Produce and assemble BESS products for residential, small business, commercial, industrial and utility-scale applications, and sell such products.
- The plan covers a 12 GWh BESS manufacturing facility, including a first phase with a capacity of 6 GWh, expected to be set up in FY 27-28 at Seetharampur, Telangana, catering to commercial, industrial and utility-scale segments.
Equity and board terms
- The JV company is currently a wholly owned subsidiary of PBTPL.
- The agreement provides for milestone-linked allotment of equity shares aggregating to 15% of the JV company's issued and paid-up equity share capital to RCT India, in four tranches.
- RCT India has the right, but not the obligation, to subscribe for an additional 5% equity interest for cash consideration at the end of Phase I of the project, subject to the terms of the agreement.
- The JV company's Board will comprise two nominees of PBTPL and one nominee of RCT India.
- No immediate issue of shares is proposed.
Other points stated in the disclosure
- The Company and none of its group entities hold any shares in RCT India and/or any RCT Group entity.
- The parties are not related to the promoter/promoter group/group companies, and the transaction does not fall within related party transactions.
- There is no proposal to nominate any director(s) on the Board of Directors of the Company (the listed entity).
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More numbers
- BESS manufacturing facility planned by the JV12 GWh
- Capacity of the first phase plant6 GWh
- Equity shares to be allotted to RCT India (share of JV's issued and paid-up equity share capital)15%
- Additional equity interest RCT India may subscribe at end of Phase I5%
- Tranches in which RCT India's equity allotment is to be madefour tranches
- PBTPL nominees on the JV company's Boardtwo nominees
- RCT India nominee on the JV company's Boardone nominee
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