Announced Wed, 7 Oct, 2026 · 19:23 IST
MITCON arm buys 26.72% more in MITCON Solar Alliance for Rs 2.4 cr
MITCON · price
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Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
MITCON Sun Power, a wholly owned subsidiary, signed a Share Purchase Agreement to buy 12,04,999 shares of MITCON Solar Alliance from existing shareholders for Rs 2.40 crores in cash. This raises its stake from 47.28% to 74%, making the target a step-down subsidiary of MITCON Consultancy. Target operates in solar power generation with FY26 turnover of Rs 6.70 crores. Deal to close in 60 days, no regulatory approvals needed.
Likely market impact
Increases control over solar subsidiary to 74% with modest Rs 2.4 cr cash outflow, expected in 60 days