Zodiac Energy Limited has informed the Exchange about Acquisition of Limited Liability Partnership (LLP).
ZODIAC · price
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On the reaction day the stock moved 2.9 pts less than Nifty Microcap 250 and 2.5 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Zodiac Energy Limited has acquired a 51% stake in two Limited Liability Partnerships — Radhavallabh Solar Projects LLP and Priyapritam Solar Projects LLP — for a cash consideration of Rs. 51,000 each (out of total capital of Rs. 1,00,000 per LLP). Both LLPs are in the solar power generation business and have been incorporated since November 2020, with nil turnover over the last three financial years. With this 51% holding, both LLPs have now become subsidiaries of Zodiac Energy. The promoters and promoter group are interested in the transaction, but the company states it has been carried out on an arm's length basis. The acquisition is aimed at expanding the company's presence in the solar energy segment, which is in line with its main line of business.
The acquisition signals Zodiac Energy's strategic push into solar power generation. However, the deal size is very small (Rs. 1.02 lakh combined), and the target LLPs have no revenue track record, so the near-term financial impact on shareholders is likely limited. The market may view it as an early-stage expansion move in the renewable energy space.