Acqusition of 51% stake in NOPL Solar Projects Private Limited with that the target company become wholly onwed subsidiary
VIKRAN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vikran Engineering Ltd has completed acquisition of 51% equity stake in NOPL Solar Projects Private Limited for Rs. 5.10 Crores (at Rs. 10,000 per share), paid in cash. Combined with its earlier 49% holding, Vikran now holds 100% of NOPL Solar, making it a wholly owned subsidiary. The acquisition qualifies as a related party transaction as one Director and one KMP of Vikran are also Directors in the Target Entity, though the company states it was undertaken at arm's length. NOPL Solar was incorporated in May 2024 and operates a 969 MW (AC) grid-connected solar power project under PM-KUSUM Scheme in Maharashtra. The deal was completed on 20 May 2026.
The acquisition consolidates Vikran's full ownership of a renewable energy platform, expanding its solar portfolio and supporting business diversification. As a related party transaction, it may attract scrutiny from investors regarding fairness of terms given director overlaps.