SWELECT Energy Systems Limited has announced the acquisition of Dexler Solar Park Phase 1 Private Limited (DSPP1), marking another step in its renewable energy expansion strategy. The company disclosed the development to BSE Limited and the National Stock Exchange of India Limited on July 25, 2026, in accordance with the Securities and Exchange Board of India (SEBI) Listing Regulations. The acquisition was approved by the Investment Committee of SWELECT during its meeting held on the same day.
Under the transaction, SWELECT will acquire a 100% equity stake in DSPP1 by purchasing 10,000 equity shares with a face value of ₹10 each. The total acquisition cost will not exceed ₹1,00,000, and the entire payment will be made in cash. Upon completion of the deal, DSPP1 will become a wholly owned subsidiary of SWELECT Energy Systems Limited. Before the acquisition, the company was a subsidiary of Dexler Energy Private Limited.
Dexler Solar Park Phase 1 Private Limited is incorporated in Karnataka and was established on March 5, 2018. The company is engaged in renewable energy generation and distribution, with activities covering power generation, electricity trading, and the manufacturing of energy-related components and equipment. However, according to the financial information disclosed, the company has not generated any revenue during the last three financial years, including FY 2022-23, FY 2023-24, and FY 2024-25. For FY 2024-25, DSPP1 reported a loss after tax of ₹34,860 and a negative net worth of ₹6,45,190.
SWELECT stated that the acquisition is not a related party transaction, and neither the company’s promoters nor promoter group had any interest in DSPP1 before the deal. The company also clarified that DSPP1 will become a related party only after it becomes a wholly owned subsidiary. In addition, no government or regulatory approvals are required to complete the acquisition.
The primary objective of the acquisition is to develop a solar power plant with an initial capacity of up to 7.0 MWdc under the Group Captive Scheme in Karnataka. Through this project, SWELECT aims to strengthen its presence in the state’s renewable energy market while expanding its clean energy portfolio. The company expects the investment to support future business growth, increase consolidated revenue, and further reinforce its position in India’s rapidly growing renewable energy sector.
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