Powerica acquires 49 percent stake in Fuji-Kailash Energy for Rs 3 Crore

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POWERICA · price

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AI summary

Powerica Limited acquired 49 percent equity in Fuji-Kailash Energy (FKEPL) for Rs 3 Crore, investing in 17.29 lakh shares at Rs 10 each. FKEPL is a newly incorporated (July 2025) renewable energy firm based in Ahmedabad with no turnover yet. The deal gives Powerica entry into solar, wind, hybrid, and bio-energy projects, supporting its ESG goals. Board approved on April 21, 2026; shares allotted May 22, 2026. This is a delayed disclosure filed after the company's recent IPO, which the company says it is addressing through stronger compliance systems.

Likely market impact

Minority stake in new renewable energy firm expands Powerica's green portfolio, but small deal size of Rs 3 Crore limits immediate financial impact.