Syrma SGS Technology Limited has announced the acquisition of a 49% equity stake in KSolare Energy Private Limited for approximately INR 83.3 crores. The deal positions Syrma SGS in the fast-growing residential solar inverter segment. KSolare has a manufacturing facility in Pune with a production capacity of 500,000 inverters per annum and a revenue of INR 342cr in FY25. The acquisition aligns with the Indian government’s initiatives in the solar energy sector.
Strategic Acquisition of KSolare Stake
Syrma SGS Technology Limited has approved the acquisition of a 49% equity stake in KSolare Energy Private Limited, a leading solar inverter manufacturer. The agreement, finalized on October 23, 2025, involves a definitive share purchase and shareholders agreement to facilitate the acquisition.
Deal Rationale and Structure
The total consideration for acquiring 100% of KSolare is INR 170 crores, with Syrma SGS contributing INR 83.3 Cr for its 49% stake and Premier Energies Limited (PEL) acquiring the remaining 51%. This acquisition allows Syrma SGS to enter the rapidly expanding residential solar inverter market. The transaction is expected to be completed within 90 days, subject to customary closing conditions.
About KSolare Energy
KSolare Energy Private Limited, established in 2012, specializes in designing and manufacturing solar inverters, including on-grid, off-grid, and hybrid models, primarily targeting the residential market. The company operates a manufacturing facility in Pune with a capacity of 500,000 inverters per annum. KSolare reported a revenue of INR 342cr in FY25, INR 226 Cr in FY24, and INR 145 Cr in FY23.
Future Synergies
This acquisition aligns with the government’s PM Surya Ghar Muft Bijli Yojana, enhancing Syrma SGS’s presence in the solar energy sector. The collaboration will leverage Premier Energies’ extensive sales and distribution network and Syrma SGS’s expertise in electronics manufacturing.
Source: BSE
