Everest Industries Limited has informed the Exchange about Investment in Enerparc Solar Power 10 Private Limited (Enerparc) and to avail 3 MWp solar power under a group captive policy from the solar plant of Enerparc
EVERESTIND · price
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Everest Industries' board has approved an investment of Rs. 1.065 crores in Enerparc Solar Power 10 Private Limited by acquiring 10,65,000 equity shares at face value (Rs. 10 per share). This gives the company a 5.31% stake in Enerparc, which represents 26% of the company's share of 3 MWp out of Enerparc's total 15 MWp solar capacity. The purpose is to secure 3 MWp of solar power for the company's Podanur Plant in Coimbatore under a group captive open access policy, increasing renewable energy usage in Tamil Nadu. Enerparc is a newly incorporated SPV (June 2024) floated by Enerparc Energy Private Limited with no turnover in the last three years. The transaction is not a related party deal and is expected to complete by November 30, 2025.
This is a small, strategic investment aimed at securing captive solar power for Everest Industries' Coimbatore plant, which should help reduce long-term energy costs and support sustainability goals. The financial impact is minimal given the small ticket size (Rs. 1.065 crores), and it is unlikely to materially move the stock price.