Pennar invests ₹5.80 crore in ZAP91 Solar for 45% stake
Pennar Industries Limited has approved an investment of ₹5.80 crore in ZAP91 Solar India Private Limited to acquire a 45% stake in the joint venture. The cash consideration, paid in a single tranche, will finance the completion of a module manufacturing plant in Sadashivpet, Telangana. The transaction, which does not require regulatory approvals, is slated for completion before June 30, 2026.
*this image is generated using AI for illustrative purposes only.
Pennar Industries Limited approved an investment of ₹5.80 crore in ZAP91 Solar India Private Limited, a joint venture company, to acquire a 45% stake. The cash consideration, made in a single tranche, will fund the completion of a module manufacturing plant, including commissioning and commercial production. The transaction is expected to be completed before June 30, 2026.
Investment Details
The joint venture entity operates in the renewable energy sector, specifically within the solar energy segment. ZAP91 Solar India Private Limited was incorporated on December 27, 2024, and is currently in the development phase of its manufacturing unit, which has not yet commenced production. The plant is located in Sadashivpet, Telangana, India.
The Board confirmed that aside from the share capital held by Pennar Industries in the joint venture, the promoter, promoter group, or group companies have no interest in ZAP91 Solar India Private Limited. No governmental or regulatory approvals are required for this acquisition.
| Detail | Information |
|---|---|
| Target Entity | ZAP91 Solar India Private Limited |
| Investment Amount | ₹5.80 crore |
| Shareholding Acquired | 45% |
| Form of Consideration | Cash |
| Industry | Renewable Energy (Solar Energy) |
| Completion Timeline | Before June 30, 2026 |
| Location of Plant | Sadashivpet, Telangana |
Historical Stock Returns for Pennar Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.39% | -0.56% | +6.67% | -19.33% | -27.62% | +502.24% |
What is the projected production capacity of the Sadashivpet plant once fully commissioned?
How will Pennar Industries fund this investment, and will it impact their capital expenditure plans for the fiscal year?
Who are the other joint venture partners holding the remaining 55% stake in ZAP91 Solar?
18
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
