Syrma SGS Technology Limited has entered definitive agreements to acquire 100% ownership of KSolare Energy Private Limited for INR 170 crore. This acquisition will facilitate Syrma SGS’s entry into the fast-growing residential solar inverter segment. KSolare has a manufacturing facility in Pune with a production capacity of 500,000 inverters per annum. The deal aims to bolster domestic manufacturing and promote clean energy initiatives.
Acquisition of K Solare
Syrma SGS Technology Limited and Premier Energies Limited are set to acquire 100% ownership of KSolare Energy Private Limited, a solar inverter manufacturer. The acquisition will be split with a ratio of 51:49 respectively, for a total consideration of INR 170 crore.
Rationale for the Acquisition
The acquisition allows Syrma SGS to enter the residential solar inverter market, aligning with the Government of India’s PM Surya Ghar Muft Bijli Yojana. A new brownfield manufacturing facility is planned in Pune to increase the production capacity to one million inverters annually.
About K Solare
KSolare is a solar inverter company with INR 342 crore revenue in FY2025. It has a manufacturing facility in Pune with a production capacity of 500,000 inverters per annum. The company manufactures on-grid, off-grid, and hybrid models mainly for the residential market.
Statements from Leadership
Chiranjeev Saluja, Managing Director & CEO of Premier Energies, stated, “Together with SYRMA SGS, we aim to make high-quality Indian-made inverters accessible to every rooftop under the PM Surya Ghar initiative.”
Jasbir Gujral, Managing Director of Syrma SGS, commented, “This collaboration reflects Syrma SGS’s commitment to advancing India’s clean energy future through high-reliability manufacturing to deliver next-generation inverter platforms.”
Syrma SGS Financials
In FY2025, Syrma SGS reported consolidated revenues of approximately ₹3,800 crore.
Source: BSE
