Intimation of agreement for acquisition of equity shares of unlisted entity.
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Awaiting price reaction for this filing.
ASI Industries Ltd has signed two agreements on 9th February 2026 with Sunsure Solarpark Fifty Two Private Limited (SSFTPL): a Power Purchase Agreement and a Share Subscription Agreement. Under these, ASI will subscribe to 15.60% of the equity share capital of SSFTPL for a total cash consideration of Rs. 182.40 lakhs, paid in two tranches (Rs. 18.24 lakhs first, Rs. 164.16 lakhs second). SSFTPL is setting up a 6.33 MW AC / 9.5 MW DC solar power project at Mundsar, Rajasthan, and ASI has contracted to purchase 3.8 MW AC / 5.7 MW DC as a captive user. The investment is being made to meet the 26% minimum captive shareholder requirement under Indian Electricity Laws. SSFTPL was incorporated in June 2025 and has not yet started operations, so it currently has no turnover.
This is a small, strategic investment (Rs. 1.82 crore) to secure long-term solar power for captive use, which should help reduce energy costs and support sustainability goals. The deal is not material in size, so expect limited direct impact on ASI's stock price, though it signals the company's move into renewable energy sourcing.