Surana Solar Limited has informed the Exchange about General Updates
SURANASOL · price
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Surana Solar has fully divested its stake in subsidiary Surana Technologies Private Limited (STPL) by selling 100% to Baidyanath Power Private Limited (BPPL) for a total consideration of about ₹4.16 crore, which has already been fully received. Following an Investment Agreement dated May 22, 2025 and a board decision on July 3, 2025, Surana Solar has lost control of STPL and it has ceased to be a subsidiary. STPL held a 25-year power purchase agreement with Maharashtra State Electricity Distribution Co. Ltd for a 54 MW solar project under the PM-KUSUM scheme, but had not contributed any revenue or net worth to the listed entity. The buyer BPPL is unrelated to the promoter group and the transaction is not a related-party deal. Completion of the sale is expected by September 30, 2025.
This is a minor, non-revenue-generating divestment — STPL contributed nothing to the company's financials, so the ₹4.16 crore inflow is small relative to the company. Shareholders should note the company is exiting a solar power subsidiary, which slightly reduces its scope in the solar value chain, though cash has already been received and there is no related-party concern.