Zodiac Energy acquires 63.5% stake in Zenwatt for ₹1.14 Cr

Zodiac Energy Ltd has completed the acquisition of a 63.5% majority equity stake in Zenwatt Clean Energy Private Limited, making Zenwatt a subsidiary from September 21, 2026. The company acquired 6,35,000 equity shares for an aggregate consideration of ₹1,14,30,000 (₹1.14 Cr) at ₹18 per share. Zenwatt, incorporated on July 07, 2023, operates in Battery Energy Storage Systems (BESS) and reported a turnover of ₹5,13,000 for FY 2025-26. This strategic acquisition is intended to expand Zodiac Energy's renewable energy portfolio and strengthen its operational capabilities, aligning with its long-term business expansion strategy. The transaction, though a related party transaction, was conducted on an arm’s length basis.