360 ONE WAM LIMITED’s subsidiary, 360 ONE Alternates Asset Management Limited, has announced the acquisition of Quark Solar Private Limited for Rs. 9.38 crore. This strategic move aims to integrate an operating entity to manage upcoming renewable energy projects. By acquiring the entire equity share capital, the company strengthens its capabilities in the renewable energy sector, positioning Quark Solar as a step-down subsidiary to support future fund-related infrastructure initiatives.
Strategic Acquisition in Renewable Energy
On April 20, 2026, 360 ONE Alternates Asset Management Limited, a wholly owned subsidiary of 360 ONE WAM LIMITED, entered into a Share Purchase Agreement to acquire Quark Solar Private Limited. The acquisition of the entire fully paid-up equity share capital is valued at Rs. 9,38,50,000, which will be fully discharged through a cash payment.
Rationale and Operational Impact
Quark Solar specializes in Engineering, Procurement, and Construction (EPC) and Operations and Maintenance (O&M) services for commercial and industrial renewable energy projects across India. By bringing Quark Solar into its fold as a step-down subsidiary, 360 ONE aims to utilize the firm as an operating entity for various Special Purpose Vehicles (SPVs) linked to the company’s planned renewable energy investment strategy.
Financial Performance of the Target
The target entity has demonstrated consistent operational scale over the last three fiscal years. Its turnover was recorded at Rs. 17.13 crore for the fiscal year ending March 31, 2026. Prior to this, the company reported turnovers of Rs. 19.42 crore in FY 2024-25 and Rs. 18.93 crore in FY 2023-24.
Transaction Timeline
The deal is expected to be finalized within one month, provided that all customary conditions precedent are met by the involved parties. This acquisition marks a significant step in the company’s commitment to building a robust infrastructure platform.
Source: BSE
