Approved acquisition of 100% equity shares of Sushma Solar Energy Private Limited
The Investment Committee has approved buying 100% of Sushma Solar Energy Private Limited, a Rajasthan-based company.
By ScoutQuest · · 2 min read
- Acquisition Cost
- not exceeding Rs. 2,27,24,000/-
- Stake Acquired
- 100% - 10,000 equity shares of Rs.10/- each
- Planned Capacity
- 50 MW solar power plant under group captive scheme
What happened
The Investment Committee of the company, using powers given by the Board, approved the acquisition of 100% (one hundred percent) of the equity shares of Sushma Solar Energy Private Limited, a company based in Rajasthan. After this acquisition, Sushma Solar would become a wholly owned subsidiary of the company.
The numbers
- Acquisition cost: not exceeding Rs. 2,27,24,000/- (Rupees Two Crore Twenty Seven Lakhs Twenty Four Thousand only)
- Shares acquired: 10,000 equity shares of face value Rs.10/- each, being 100% of the total shares of the target
- Consideration form: cash
- Target's paid-up equity share capital: Rs.1,00,000/-
- Latest financial parameters of the target: turnover Nil, PAT Nil, net worth Rs. 0.01 crore
About the target
Sushma Solar was incorporated on 18th May 2025 and is yet to commence its commercial production or operation. Its main objects cover generating, accumulating, distributing and supplying solar energy for its own use or for sale to governments, state electricity boards, intermediaries in power transmission and distribution, companies, industrial units and other users of energy. Turnover history: FY 2025-26 - Nil; FY 2024-25 and FY 2023-24 - Not Applicable.
What the acquisition is meant to do
Sushma Solar proposes to set up a solar power plant with an initial capacity of 50 MW under a group captive scheme. The company says this would increase the consolidated turnover of the company, strengthen its market presence in the western part of India, enhance operational efficiencies and expand its renewable energy capabilities.
Other points from the update
- The company states the acquisition would not fall within related party transaction(s); Sushma Solar would become a related party only after the completion of the proposed acquisition.
- Against the item on governmental or regulatory approvals required for the acquisition, the update states: Not Applicable.
- The acquisition will be made as per the Share Purchase Agreement or such other definitive agreement to be entered into with the selling shareholders of Sushma Solar.
How to read it
This brings a newly incorporated, not-yet-operating solar company into the group. The cash outgo is capped at not more than Rs. 2,27,24,000/-, while the asset being built out is a planned 50 MW group captive solar plant. The approval is in place and the share purchase agreement with the selling shareholders is the next step named in the update.
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More numbers
- Acquisition cost (not exceeding)Rs. 2,27,24,000/-
- Equity shares acquired10,000
- Face value per shareRs.10/-
- Shareholding acquired100%
- Target's paid-up equity share capitalRs.1,00,000/-
- Target's net worthRs. 0.01 crore
- Planned initial solar plant capacity50 MW
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