Oswal Pumps Limited has acquired an additional 8% stake in Walso Solar Solution Private Limited for a total consideration of ₹3,65,96,000, making the entity its subsidiary. The transaction, completed on June 08, 2026, involved the purchase of 13,07,000 equity shares with a face value of ₹10 each at an issue price of ₹28 per share. This strategic move strengthens Oswal Pumps' vertically integrated operations in the solar pumping sector by adding manufacturing capabilities for mounting structures and Balance of Systems (BOS).

The acquisition is classified as a Related Party Transaction conducted at arm's length. While the promoter group does not hold a significant interest in the target entity, Mr. Narinder Nath Goela, a member of the promoter group, holds 4.30% of the equity share capital in Walso Solar Solution Private Limited post-acquisition. No specific governmental or regulatory approvals were required for the completion of this transaction.

Walso Solar Solution Private Limited, incorporated on April 23, 2024, operates in the manufacturing industry. The company specializes in producing mounting structures, Balance of Systems (BOS), and essential components for Turnkey Solar Pumping Systems. Its operations are based entirely in India. The target entity reported a turnover of INR 1702.65 million in FY 2025-26, compared to INR 720.54 million in FY 2024-25. The paid-up equity share capital of Walso Solar Solution Private Limited stands at ₹9,30,70,000 following the allotment.

Oswal Pumps stated that the acquisition aligns with its strategy to enhance vertical integration. The company already manufactures components for pumps and produces solar modules. The addition of Walso Solar Solution Private Limited’s capabilities is expected to provide advantages in new product design, operational cost optimization, and margin improvement. Previously, Oswal Pumps had acquired a 4.5% stake in the entity on April 08, 2026, when it was an associate.

Financial Details of Acquisition

Oswal Pumps Limited has commenced the remote e-voting process for the re-appointment of Mr. Amulya Gupta as Whole Time Director of the Company. The voting period opened on May 22, 2026, and will conclude on June 20, 2026. The re-appointment is proposed for a period of five years, effective from June 24, 2026, to June 23, 2031, subject to the approval of members.

Re-appointment Details

The Board of Directors, at its meeting held on May 16, 2026, approved the re-appointment of Mr. Amulya Gupta. The resolution proposes a fixed remuneration of Rs. 20,00,000 per month and/or other perquisites as per the company's policy. The terms stipulate that in the event of loss or inadequacy of profit in any financial year, the payment shall be governed by the limits prescribed under Section II of Part II of Schedule V of the Companies Act, 2013.

Voting Procedure

The remote e-voting facility is available on the NSDL platform. Members registered with depositories as on the cut-off date of May 15, 2026, are entitled to vote. Shareholders can cast their votes electronically by logging on to www.evoting.nsdl.com . The results of the postal ballot will be announced within two working days or three days of the conclusion of the e-voting period, whichever is earlier.

Profile of Mr. Amulya Gupta

Mr. Amulya Gupta brings over 7 years of experience in the pumps manufacturing industry. He holds a bachelor's degree in science in business and management studies from the University of Bradford. He was first appointed to the Board on December 4, 2020, and has been associated with the company since August 2019. He is recognized for his analytical and leadership skills, focusing on operational excellence and sustainable growth.

Relationships and Compliance

Mr. Amulya Gupta is the son of Mr. Vivek Gupta, Chairman and Managing Director, and the brother of Mr. Shivam Gupta, Whole Time Director. The company has confirmed that he is not debarred from holding the office of director by any SEBI order or other authority. Mr. Amit Shukla has been appointed as the scrutinizer for the postal ballot process.