Jhaveri Credits acquires 51% stake in U R Energy Solar for ₹51,000
- Board approves 51% stake acquisition in U R Energy (Solar) Pvt Ltd for ₹51,000
- Company name to change to U R Energy (India) Limited pending approvals
- Main object clause altered to focus on solar manufacturing and EPC activities
- Target entity reports nil turnover for last three fiscal years
*this image is generated using AI for illustrative purposes only.
Jhaveri Credits & Capital approved the acquisition of a 51% equity stake in U R Energy (Solar) Private Limited during its board meeting on September 19, 2026. The transaction values the controlling interest at ₹51,000, marking the company’s entry into solar energy manufacturing.
The board also approved changing the company’s name from Jhaveri Credits and Capital Limited to U R Energy (India) Limited. This follows the sanctioning of a scheme of amalgamation between U R Energy Private Limited and Jhaveri Credits and Capital Limited. The name change is subject to member approval and regulatory clearances.
Acquisition Details
U R Energy (Solar) Private Limited operates in the solar energy sector, manufacturing panels, inverters, cables, and electronic accessories. The target entity has an authorized capital of ₹1.00 lakh and paid-up capital of ₹1.00 lakh.
| Metric | Value |
|---|---|
| Stake Acquired | 51% |
| Total Consideration | ₹51,000 |
| Target Turnover | Nil |
| Net Worth | -₹81,000 |
The target company reported nil turnover for FY23, FY24, and FY25. Its net worth stands at -₹81,000. The acquisition is structured as a cash consideration deal. Upon completion, U R Energy (Solar) Private Limited will become a subsidiary of Jhaveri Credits & Capital.
Strategic Shift
The board approved altering the main object clause of the Memorandum of Association to align with renewable energy operations. The new clause covers manufacturing solar modules, inverters, batteries, and Battery Energy Storage Systems (BESS). It also includes engineering, procurement, and construction (EPC) activities for solar, wind, and hybrid power plants.
The company will engage in developing renewable energy projects, including Compressed Bio-Gas (CBG) plants. It plans to execute Power Purchase Agreements (PPAs) and manage transmission and distribution infrastructure. These changes require member approval via postal ballot.
Governance Actions
The board appointed National Securities Depository Limited (NSDL) as the remote e-voting agency for the postal ballot resolutions. M/s Siddharth Sipani & Associates was appointed as the scrutinizer for the voting process. The postal ballot notice will be submitted to the stock exchange after emailing eligible shareholders.
Historical Stock Returns for Jhaveri Credits & Capital
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.85% | +10.66% | +14.67% | -1.95% | -6.98% | +4,325.16% |
How will Jhaveri Credits & Capital finance the capital expenditure required to scale U R Energy's manufacturing capabilities given the target's current negative net worth?
What specific regulatory hurdles or timelines are expected for the scheme of amalgamation and name change approval by shareholders and authorities?
How does this pivot from credit services to solar manufacturing impact the company's valuation metrics and investor sentiment in the short term?
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