KPI Green Energy Limited announced that its material subsidiary, Sun Drops Energia Limited (SDEL), has increased its ownership stake in DEK and Mavericks Green Energy Limited (DMGEL) to 88.37% as of October 17, 2026.

The move follows the completion of an acquisition of additional 43,49,560 equity shares in DMGEL. This transaction brings the total number of equity shares held by SDEL in DMGEL to 1,50,97,320, representing a significant majority holding in the target entity.

Acquisition Details

This update is in continuation of earlier intimations made by KPI Green Energy regarding the proposed acquisition of up to 100% of the equity share capital of DMGEL by SDEL. The company had previously informed stock exchanges about this strategic intent in August and September 2026.

The disclosure complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The necessary details were submitted as "Annexure – A" to the intimation dated August 21, 2026, in line with SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026.

Stake Progression

The incremental purchase marks a step forward in consolidating control over DMGEL. The table below summarizes the current holding status:

KPI Green Energy stated that the information regarding the completion of this specific tranche was received from SDEL at 10:30 am on October 17, 2026. The company remains committed to its strategic objectives through its material subsidiaries.

KPI Green Energy Limited has incorporated KPGC Three Private Limited, a wholly owned subsidiary, on October 5, 2026. The new entity is established to engage in the generation, storage, and supply of electricity from renewable sources, including solar, wind, and biomass.

The subsidiary was registered with the Registrar of Companies in Ahmedabad. It operates with an authorized and subscribed capital of ₹1 lakh, comprising 10,000 equity shares of ₹10 each. The company confirmed that KPGC Three Private Limited is yet to commence business operations, resulting in nil turnover.

Subsidiary details and structure

The incorporation falls under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The parent company holds 100% shareholding in the new entity. The acquisition was executed via cash consideration totaling ₹1 lakh.

Operational scope

KPGC Three Private Limited is mandated to generate, store, transmit, distribute, purchase, sell, and supply electricity and other forms of energy from conventional and renewable sources. Its objectives include establishing, owning, developing, operating, and maintaining power plants and energy storage systems. The company also undertakes activities incidental to these core functions.

The filing clarified that the transaction does not fall within related party transactions, as neither the promoter nor promoter group companies hold any interest in the target entity beyond the parent company's ownership. No governmental or regulatory approvals were required for this specific incorporation step.