Syrma SGS Technology Ltd Acquires 49% Stake in KSolare Energy for Rs. 83.3 Cr

Syrma SGS Technology Ltd and Premier Energies Limited have jointly acquired 100% stake in KSolare Energy Private Limited, a leading solar inverter manufacturer. Syrma SGS Technology Ltd will hold 49% of the target company, while Premier Energies Limited will hold 51%. The total consideration for the acquisition is Rs. 170 crores. This acquisition will enable Syrma SGS Technology Ltd to foray into the fast-growing residential solar inverter segment, aligned with the Government of India’s PM Surya Ghar Muft Bijli Yojana. The transaction is at arm’s length basis and doesn’t fall under related party transaction.