360 One WAM Subsidiary Acquires Full Stake in Quark Solar for ₹9.39 Crore
360 One WAM's subsidiary 360 ONE Alternates Asset Management Limited has approved acquisition of complete stake in Quark Solar Private Limited for ₹9.39 crore through cash payment. Quark Solar, established in 1998, provides EPC and O&M solutions for renewable energy with recent turnover of ₹17.13 crore, and will serve as operating entity for the acquirer's renewable energy SPVs.
*this image is generated using AI for illustrative purposes only.
360 One WAM has announced a significant acquisition in the renewable energy sector, with its subsidiary 360 ONE Alternates Asset Management Limited set to purchase the complete stake in Quark Solar Private Limited. The transaction, valued at ₹9.39 crore, was disclosed through regulatory filings and will result in full ownership of the solar energy company.
Acquisition Details
The board of directors of 360 ONE Alternates Asset Management Limited, a wholly owned subsidiary of 360 ONE WAM LIMITED, approved the acquisition of entire fully paid up equity share capital of Quark Solar on a fully diluted basis. The company entered into a Share Purchase Agreement with existing shareholders for a total purchase consideration of ₹9.39 crore to be discharged entirely through cash payment.
| Parameter: | Details |
|---|---|
| Acquisition Value: | ₹9.39 crore |
| Stake Acquired: | 100% equity share capital |
| Acquiring Entity: | 360 ONE Alternates Asset Management Limited |
| Target Company: | Quark Solar Private Limited |
| Payment Method: | Cash consideration |
| Completion Timeline: | Within a month |
Target Company Profile
Quark Solar Private Limited, incorporated on July 20, 1998, operates in the renewable energy sector with a focus on EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) solutions. The company services commercial and industrial customers across India in the renewable energy space.
| Financial Performance: | Amount (₹ Crores) |
|---|---|
| FY 2025-26 Turnover: | 17.13 |
| FY 2024-25 Turnover: | 19.42 |
| FY 2023-24 Turnover: | 18.93 |
Strategic Implications
The acquisition aligns with 360 One WAM's strategic expansion into renewable energy operations. Upon completion, Quark Solar will become a wholly owned subsidiary of the acquirer and a step-down subsidiary of 360 ONE WAM LIMITED. The company stated that Quark Solar will act as an operating entity for various Special Purpose Vehicles (SPVs) of funds proposed to be set up under the renewables strategy.
The transaction does not fall within related party transactions, and promoters or group companies of 360 ONE WAM LIMITED do not have any interest in Quark Solar. The acquisition is expected to be completed within a month, subject to satisfactory completion of customary conditions precedent.
Historical Stock Returns for 360 One WAM
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.60% | -3.81% | +5.08% | -12.17% | -2.29% | +278.16% |
What is the target size and timeline for 360 ONE's renewable energy fund strategy that will utilize Quark Solar as an operating entity?
How will this acquisition impact 360 ONE WAM's overall asset under management (AUM) and fee income structure in the coming quarters?
What additional renewable energy acquisitions or partnerships might 360 ONE pursue to scale their green energy portfolio?
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