KPI Green Energy’s subsidiary, Sun Drops Energia, has approved the acquisition of up to 100% equity stake in DEK and Mavericks Green Energy Limited (DMGEL) in a transaction valued at ₹55.80 crore.
Under the proposed deal, Sun Drops Energia will acquire up to 1,70,84,853 equity shares of DMGEL at ₹32.66 per share. The transaction will be completed through a share swap arrangement, with Sun Drops issuing up to 15,89,781 Compulsorily Convertible Preference Shares (CCPS) of equivalent value to the existing shareholders of DMGEL.
Once Sun Drops acquires 50% or more of DMGEL’s equity capital, the company will become a step-down subsidiary of KPI Green Energy.
The acquisition is aimed at strengthening Sun Drops Energia’s renewable energy business by leveraging DMGEL’s technical capabilities and expertise in project execution. DMGEL provides engineering, procurement and construction (EPC) and project development solutions across the renewable energy sector.
The strategic move is expected to enhance the group’s capabilities across the green energy value chain and support its expansion in renewable energy project development and execution. The proposed transaction is subject to shareholder approvals and other applicable regulatory compliances.
Key Highlights
- Acquirer: Sun Drops Energia, subsidiary of KPI Green Energy
- Target Company: DEK and Mavericks Green Energy Limited (DMGEL)
- Stake: Up to 100%
- Transaction Value: ₹55.80 crore
- Acquisition Price: ₹32.66 per equity share
- Consideration: Share swap through CCPS issuance
- Strategic Focus: Expanding EPC and renewable energy project development capabilities
