KEI Industries Acquires 26% Stake in Solarcraft Power for ₹5.90 Crore
KEI Industries will invest ₹5.90 Crores to acquire a 26% stake in Solarcraft Power India 24 Private Limited. This investment is for sourcing solar power as a captive consumer for up to 11.25 MW capacity in Rajasthan. The acquisition is expected to be completed within 90 days.
The investment amount of ₹5.90 Crores is material for the company's strategic objective of securing renewable energy but does not represent a significant portion of its overall operations.
The acquisition of a stake in a solar power company is a positive step towards enhancing renewable energy sourcing and aligning with the company's sustainability commitments.
KEI Industries Limited has entered into a Share Subscription and Shareholders’ Agreement (SSSA) and a Solar Power Purchase Agreement (SPPA) on May 20, 2026, to acquire a 26% stake in Solarcraft Power India 24 Private Limited. This acquisition, along with other captive users, involves an investment of ₹5.90 Crores (Five Crores Ninety Lacs), to be made in one or more tranches.
The purpose of this investment is to secure solar power as a captive consumer for a capacity of up to 11.25 MW, located in Rajasthan. Solarcraft Power India 24 Private Limited is a Special Purpose Vehicle incorporated on June 06, 2023, for setting up solar power projects on a captive basis.
The company stated that this move aims to enhance its source of renewable power supply and achieve its commitment towards renewable energy. The proposed acquisition is not a related party transaction, and the promoter group has no interest in the entity being acquired. The transaction is subject to customary conditions precedents and is expected to be completed within 90 days from the announcement date.
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KEI Industries Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by KEI Industries Limited. Read the original for the full detail.