Syrma SGS Technology Limited has announced its entry into the renewable energy sector with the acquisition of a 49% equity stake in KSolare Energy Private Limited for ₹83.3 crore. The remaining 51% stake will be acquired by Premier Energies Limited (PEL) for ₹86.7 crore, valuing KSolare at ₹170 crore.
Strategic Joint Venture
This acquisition forms part of a joint venture between Syrma SGS and Premier Energies. The deal is expected to be completed within 90 days and will be funded through cash consideration by Syrma SGS. The joint venture board will include four directors—two from each company—with Premier Energies retaining the right to appoint the chairman.
Financial Growth
KSolare has reported strong financial performance, with revenues rising from ₹145 crore in FY23 to ₹226 crore in FY24, and an estimated ₹342 crore in FY25.
Strategic Significance
The acquisition aligns with India’s renewable energy goals under schemes like the PM Surya Ghar Muft Bijli Yojana. Syrma SGS aims to capitalize on KSolare’s product capabilities, Premier Energies’ nationwide distribution network, and its own electronics manufacturing expertise to accelerate growth in the residential solar market.
Market Outlook
Industry analysts view this move as a strategic diversification for Syrma SGS, positioning the company to benefit from India’s rapidly expanding solar energy sector. The joint venture is expected to boost market penetration, enhance manufacturing capabilities, and create new revenue opportunities in the clean energy space.
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