KPI Green Energy Limited announced that its material subsidiary, Sun Drops Energia Limited (SDEL), has completed the acquisition of a 62.91% equity stake in DEK and Mavericks Green Energy Limited (DMGEL). The transaction concluded on September 26, 2026, solidifying KPI Green’s footprint in the renewable energy sector through this strategic consolidation.

Acquisition details and structure

SDEL acquired 1,07,47,760 equity shares of DMGEL, representing the specified percentage of the paid-up equity share capital. This move follows an initial intimation provided on August 21, 2026, regarding the proposed acquisition of up to 100% of DMGEL’s equity. The completion marks a significant step in KPI Green’s strategy to expand its operational capacity via its subsidiary network.

Consequent to this transaction, DMGEL has become a subsidiary of SDEL. Accordingly, it is now classified as a step-down subsidiary of KPI Green Energy Limited, in accordance with the applicable provisions of the Companies Act, 2013.

Regulatory compliance and disclosures

The company stated that all disclosures required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been duly submitted. These disclosures were aligned with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026. The relevant information was previously submitted as "Annexure – A" to the intimation dated August 21, 2026.

The confirmation of the share transfer was received from SDEL at 10:30 am on September 26, 2026. The filing was signed by Krunal Bhatt, Company Secretary & Compliance Officer, for KPI Green Energy Limited.

KPI Green Energy has incorporated a new wholly owned subsidiary, KPGC Two Private Limited, on September 26, 2026. The entity is registered under the renewable energy industry and aims to engage in electricity generation, storage, and distribution activities.

The subsidiary was established with an authorized and subscribed capital of ₹1,00,000 (Rupees One Lakh), comprising 10,000 equity shares of ₹10 each. As the company is yet to commence business operations, its turnover is currently nil. The incorporation was disclosed to stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Subsidiary Details

The newly formed entity, registered with the Registrar of Companies, Ahmedabad, holds 100% shareholding by the parent company. The acquisition was executed via cash consideration.

Business Objectives

KPGC Two Private Limited has been incorporated with specific objects related to the energy sector. These include:

• Generating, storing, transmitting, distributing, purchasing, selling, and supplying electricity from conventional and renewable sources.
• Establishing, owning, developing, operating, and maintaining power plants and energy storage systems.
• Undertaking activities incidental to the above, including solar, wind, hydro, biomass, and thermal energy projects.

The company confirmed that no governmental or regulatory approvals were required for this incorporation, and the transaction does not fall under related party transactions.