360 ONE WAM LIMITED has informed the Exchange that 360 ONE Alternates Asset Management Limited ("Acquirer"), a wholly owned subsidiary of the Company at its meeting held today has approved acquisition of entire fully paid up equity share capital of Quark Solar Private Limited
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360 ONE Alternates Asset Management Limited, a wholly owned subsidiary of 360 ONE WAM, has approved acquisition of 100% equity share capital of Quark Solar Private Limited for Rs. 9.38 crore in cash. Quark Solar operates in renewable energy sector providing EPC and O&M solutions to commercial and industrial customers across India. The target company had turnover of Rs. 17.13 crore for FY 2025-26. The acquisition will enable the acquirer to use Quark Solar as an operating entity for Special Purpose Vehicles under their renewables fund strategy. The deal is expected to close within a month and is not a related party transaction.
This acquisition diversifies 360 ONE's business into the renewable energy sector through its asset management arm. The deal size is relatively small (Rs. 9.38 crore) compared to the parent company's scale, so direct stock price impact may be limited, but it signals the company's expansion into new investment verticals.