Investment20 May 2026, 08:01 pm
KEI Industries Invests ₹5.9 Cr in Solarcraft Power India
AI Summary
KEI Industries Ltd has entered into a Share Subscription and Shareholders’ Agreement (SSSA) and Solar Power Purchase Agreement (SPPA) on May 20, 2026, to acquire 26% of Solarcraft Power India 24 Private Limited's securities for ₹5.90 Crores. This investment will be used to source solar power as a captive consumer for a capacity of up to 11.25 MW located in Rajasthan. The acquisition is subject to customary conditions and is expected to be completed within 90 days. Solarcraft Power India 24 Private Limited is a special purpose vehicle for setting up a solar power project.
Key Highlights
- KEI invests ₹5.90 Cr to acquire 26% stake in Solarcraft Power India 24 Pvt Ltd.
- Investment aims to secure solar power for captive consumption up to 11.25 MW.
- Solarcraft Power is setting up a solar project in Rajasthan.
- Transaction expected to be completed within 90 days, subject to conditions.
- Acquisition is not a related party transaction.
Price Impact
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