Enviro Infra Engineers Limited has informed the Exchange about Acquisition
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Enviro Infra Engineers Limited announced the completion of acquiring Sunaxis Renewables Private Limited through its wholly owned subsidiary EIE Renewables on June 6, 2025. The acquisition was done by purchasing 10,000 equity shares at Rs. 10 per share, totaling Rs. 1,00,000 in cash consideration, making Sunaxis a step-down wholly owned subsidiary. Sunaxis is a newly incorporated company (April 2025) set up as a Special Purpose Vehicle for ground mounted and floating solar power projects across India, with no turnover yet. The transaction is a related party deal as the company's promoter directors Sanjay Jain and Manish Jain were previous shareholders of Sunaxis, though conducted at arm's length pricing.
This acquisition strengthens Enviro Infra's renewable energy portfolio by adding a dedicated solar power project vehicle, aligning with its expansion into sustainable energy segments. While the immediate financial impact is negligible given the small acquisition value, it positions the company to pursue solar EPC opportunities going forward, potentially adding a new revenue stream in the future.