SPR Auto Technologies Invests ₹6 Crore for 23.21% Stake in Solar Power Project
SPR Auto Technologies will invest up to ₹6 crore for a 23.21% stake in Sunsure Solarpark Forty Private Limited. The investment, made in two tranches, aims to secure solar power for the company's manufacturing facility and meet green energy requirements. The first tranche of ₹0.90 crore is due by September 24, 2026.
The investment amount of ₹6 crore is material for the company and supports strategic objectives related to green energy and cost savings.
The investment in a solar power project is positive for the company's long-term sustainability, cost optimization, and regulatory compliance.
SPR Auto Technologies Limited (formerly Shriram Pistons & Rings Limited) has entered into a Share Subscription Agreement (SSA) and a Shareholders’ Agreement (SHA) with Sunsure Solarpark Forty Private Limited (Sunsure Solarpark) and Sunsure Energy Private Limited. The company will invest up to ₹6,00,00,000 (₹6 crore) by subscribing to equity shares representing approximately 23.21% of Sunsure Solarpark's paid-up equity share capital on a fully diluted basis. This investment is for a group captive solar power project in accordance with the Electricity Act, 2003.
Concurrently, SPR Auto Technologies has signed a Power Purchase Agreement (PPA) with Sunsure Solarpark to procure solar power for its manufacturing facility in Pathredi, Rajasthan. Sunsure Solarpark is a special-purpose vehicle incorporated on January 8, 2025, and is a wholly owned subsidiary of Sunsure Energy Private Limited. It has not yet commenced commercial operations, and its turnover is currently nil.
The investment will be made in two tranches. The first tranche of ₹90,00,000 (₹0.90 crore) is proposed to be invested on or before September 24, 2026, subject to the completion of conditions specified in the SSA. The second tranche of ₹5,10,00,000 (₹5.10 crore) will be invested upon receipt of a Second Tranche Subscription Notice from Sunsure Solarpark. The investment aims to meet the company's green energy needs, optimize energy costs, and comply with regulatory requirements for captive power consumption.
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SPR Auto Technologies Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. 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 SPR Auto Technologies Limited. Read the original for the full detail.