Deals14 Feb 2026, 12:07 pm
Khaitan Chemicals & Fertilizers Terminates Share Subscription and Shareholder Agreement
AI Summary
Khaitan Chemicals & Fertilizers Ltd has terminated a Share Subscription and Shareholders’ Agreement (SSSHA) with KRSKA Solar Private Limited and KRSKA Capital Private Limited. The agreement was initially intended for the acquisition of 26% equity stake in KRSKA Solar Private Limited and for consumption of 85% of the power generated by the said entity. However, the conditions precedent stipulated under the Agreement were not fulfilled within the agreed timelines, leading to the termination of the SSSHA. The termination does not have any material financial impact on the Company.
Key Highlights
- Khaitan Chemicals & Fertilizers Ltd has terminated a Share Subscription and Shareholders’ Agreement (SSSHA) with KRSKA Solar Private Limited and KRSKA Capital Private Limited.
- The SSSHA was intended for the acquisition of 26% equity stake in KRSKA Solar Private Limited and for consumption of 85% of the power generated by the said entity.
- The conditions precedent stipulated under the Agreement were not fulfilled within the agreed timelines, leading to the termination of the SSSHA.
- No funds were infused pursuant to the SSSHA, no equity shares or OCRPS were allotted to the Company, and the Company does not hold any equity or convertible securities in KRSKA Solar Private Limited.
- The termination of the SSSHA does not have any material financial impact on the Company.