Oriana Power Limited has announced that it has acquired additional equity shares in its subsidiary Truere Guj SPV Private Limited through a rights issue offer. The transaction was completed on April 24, 2026, and involved the purchase of 9,324,000 equity shares with a face value of Rs 10 each. The total investment made by the company stands at ₹12,01,68,600, which also includes a securities premium of ₹2,69,28,600.
Even after this fresh capital infusion, Oriana Power’s overall shareholding in the subsidiary has not changed. The company held a 74 percent stake in Truere Guj SPV before the rights issue, and it continues to maintain the same level of ownership after the transaction. This indicates that the rights issue was structured in a way that allowed the parent company to maintain its existing stake while strengthening the financial position of the subsidiary.
Truere Guj SPV Private Limited is a newly incorporated company, established on January 30, 2024. It operates in the renewable energy sector and is focused on the generation, distribution, and sale of electricity in India. As the company is still in the early stage of its operations, it has reported a turnover of nil for the financial year 2024-25. However, it has recorded a net worth of Rs 6,908 lakhs during the same period. The company also reported a loss after tax of ₹47.77 lakhs, which is not uncommon for new project-based entities in the initial development phase.
The main purpose of this investment is to support the development of a Battery Energy Storage System (BESS) project. This system will be integrated with a solar power project that is currently under development by the subsidiary. The BESS will help store excess electricity generated during peak production periods and make it available when demand is higher. This is expected to improve energy efficiency and ensure better management of power supply.
From a regulatory point of view, the transaction falls under the category of a related party transaction, as the subsidiary is owned by Oriana Power. However, the company has clarified that the deal was carried out on an arm’s length basis. It also stated that no promoters or group entities have any personal interest in the subsidiary. Additionally, no government or regulatory approvals were required to complete this transaction. The investment highlights the company’s continued focus on strengthening its presence in the renewable energy and energy storage sector in India.
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