K.P. Energy Limited has updated the list of Key Managerial Personnel authorized to determine materiality and make disclosures to stock exchanges. The changes take effect from September 3, 2026.

The company notified BSE and NSE regarding the updation pursuant to Regulation 30(5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Authorized Personnel

The following individuals are now authorized for these purposes:

Dr. Faruk G. Patel, Mr. Affan Faruk Patel, and Ms. Shabana Ahmed Belim share the registered office address in Surat, Gujarat. Ms. Nisha Agarwal serves as the primary contact for compliance matters.

K.P. Energy Limited has signed a non-binding letter of intent with Raz Holding Group, a diversified Saudi conglomerate, for strategic investment and partnership in Indian renewable energy.

The agreement outlines potential structures including acquisitions, capital infusion, or operational collaboration. Final terms, instruments, and valuation will be determined following mutual due diligence. The parties have agreed to an exclusivity period of ninety days, valid until November 18, 2026, to negotiate and execute definitive agreements.

Deal Structure and Conditions

The proposed transaction is subject to several key conditions precedent:

• Satisfactory completion of financial, legal, tax, technical, and ESG due diligence.
• Execution of definitive and legally binding agreements.
• Necessary corporate, board, and shareholder approvals from both parties.
• Regulatory approvals under FEMA/RBI, SEBI, and competition law requirements.

The letter of intent is explicitly non-binding in its entirety. It does not create any obligation for either party to proceed with the transaction. Any binding commitment will arise solely upon the execution of definitive agreements.

Strategic Context

Dr. Faruk G. Patel, Founding Promoter of KP Group, stated that the interest from Raz Holding Group endorses the quality of assets built over three decades. He noted that international capital is increasingly viewing Indian clean-energy platforms as attractive partners.

KP Group operates across solar and wind independent power production (IPP), engineering procurement and construction (EPC), transmission, and manufacturing. The group also holds emerging positions in battery energy storage systems (BESS), cell manufacturing, operation and maintenance services, and green hydrogen.

Raz Holding Group, established in 2008, has interests spanning investments, real estate, finance, fintech, consulting, artificial intelligence, healthcare, education, defence, media, and creative industries.