Saatvik Green Energy Limited has informed the Exchange about Acquisition

Saatvik Green Energy's wholly-owned subsidiary, Saatvik Cleantech EPC Private Limited, has signed a Share Purchase Agreement to acquire a 49% stake in Intelligent Hydel Solutions Private Limited (IHSPL) for a cash consideration of ₹1,30,58,500 (about ₹1.3 crore). RMC Switchgears Limited will continue to hold the remaining 51% and remain the holding company of IHSPL. IHSPL has a Power Purchase Agreement (PPA) with Maharashtra's power utility MSEDCL to set up a 41 MW AC power plant in Maharashtra, and the deal allows Saatvik to enter the Independent Power Producer (IPP) business. The target is a newly incorporated company (January 2024) with zero revenue in FY24 and FY25, and the acquisition is expected to be completed within 30 days. The transaction is not a related-party deal.