Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Completion of Acquisition of 49% Stake in NOPL Solar Projects Private Limited
VIKRAN · price
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Vikran Engineering Limited has completed the acquisition of a 49% equity stake in NOPL Solar Projects Private Limited. The company acquired 4,900 shares for a total consideration of Rs. 4.90 crores, paid in cash. The target entity, incorporated in May 2024, is engaged in developing, operating and maintaining a 969 MW grid-connected solar power project in Maharashtra under the PM-KUSUM Scheme. The acquisition aligns with Vikran Engineering's strategy to expand its presence in the renewable energy sector and diversify its business into solar energy projects.
This acquisition signals Vikran Engineering's strategic push into the renewable energy space, which could be positive for shareholders looking for diversification beyond its existing operations. The 49% stake acquisition positions the company to benefit from India's solar energy growth story.