SPR Auto Technologies Limited announced its decision to acquire a significant stake of approximately 23.21% in Sunsure Solarpark Forty Private Limited. This special-purpose vehicle is engaged in the renewable energy and power generation industry. The acquisition aims to meet green energy needs, optimize energy costs, and comply with captive power consumption regulations. The total subscription amount is ₹6.00 crore, payable in two tranches.
SPR Auto Technologies Expands into Renewable Energy
SPR Auto Technologies Limited has entered into an agreement to acquire a stake in the renewable energy sector. The company announced its intent to acquire approximately 23.21% of the equity share capital of Sunsure Solarpark Forty Private Limited, a wholly owned subsidiary of Sunsure Energy Private Limited.
Strategic Rationale and Investment Details
The acquisition is driven by strategic objectives, including meeting the company’s green energy needs, optimizing energy costs, and ensuring compliance with regulatory requirements for captive power consumption. The total investment for this acquisition is ₹6.00 crore, which will be paid in two tranches: an initial ₹0.90 crore and a subsequent ₹5.10 crore. This subscription is based on the fair market value of the equity shares as determined by a valuation report.
Target Entity and Operations
Sunsure Solarpark Forty Private Limited, operating under the name “Sunsure Solarpark,” is a special-purpose vehicle incorporated in India for solar power projects. As of its incorporation on January 8, 2025, the company had not yet commenced commercial operations and reported nil turnover. Its parent company, Sunsure Energy Private Limited, is involved in the renewable energy sector.
Transaction Timeline
The proposed subscription is expected to be completed in two tranches. The first tranche of ₹90,00,000 is anticipated to be invested on or before September 24, 2026, which is 30 days from the execution date, subject to the satisfaction of certain conditions. The second tranche of ₹5,10,00,000 will be invested upon receipt of the Second Tranche Subscription Notice.
Source: BSE
