Syrma SGS Technology Limited and Premier Energies Limited have decided not to proceed with their proposed joint venture to acquire K-Solare Energy Private Limited, after the conditions precedent to the transaction were not fulfilled. The termination was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Both companies have confirmed that there are no material financial implications arising from the termination.

Joint Venture Termination

The key details of the development are outlined below:

The proposed joint venture between Syrma SGS and Premier Energies was originally disclosed on October 23, 2025, with a subsequent update on February 21, 2026. The arrangement was intended to facilitate the acquisition of a controlling stake in K-Solare Energy. However, as the conditions precedent to the transaction were not fulfilled, both companies have now agreed to discontinue the arrangement. The termination has been described as amicable, with no adverse financial consequences for either party.

Strategic Outlook

Notwithstanding the termination of the K-Solare deal, Syrma SGS has reaffirmed its commitment to the solar inverter and renewable energy electronics sector. The company stated that it continues to evaluate alternative opportunities in the space, signalling that its strategic interest remains intact despite the collapse of this particular transaction. The disclosure was made by Company Secretary Bhabagrahi Pradhan from Gurgaon on May 11, 2026, and the relevant documents have been made available on the company's investor relations website.

Premier Energies Limited announced that its Board of Directors, at a meeting held on May 4, 2026, approved a second interim dividend of ₹0.75 per equity share (75%) for the financial year 2025-26. The record date for determining the eligibility of shareholders entitled to receive this dividend has been set as Saturday, May 9, 2026, based on names appearing in the Register of Members. The company had previously declared and paid a first interim dividend of ₹0.25 per equity share (25%) for the same financial year during the year ended March 31, 2026.

Dividend Payment and Shareholder Requirements

The interim dividend will be disbursed to shareholders through electronic mode, based on updated bank mandates registered in their demat accounts. Shareholders whose bank mandates are not updated will receive payment only after the relevant bank details are duly updated with their respective depository. Shareholders are requested to ensure their Permanent Account Number (PAN) is updated with the Company or KFin Technologies Limited (KFintech), the Registrar and Share Transfer Agent (RTA), on or before May 9, 2026.

The key details of the dividend declaration are summarised below:

TDS Provisions Applicable to Dividend Income

In accordance with the provisions of the Income-tax Act, 2025, as amended by the Finance Act, 2026, effective April 1, 2026, dividend declared and paid by the company is taxable in the hands of shareholders. Accordingly, Premier Energies is required to deduct tax at source (TDS) from the interim dividend at prescribed rates. The applicable TDS rate varies depending on the residential status of the shareholder and applicable exemptions, subject to fulfilment of documentary requirements.

No TDS shall be deducted on dividend payable to resident individuals if the total dividend to be received during financial year 2026-27 does not exceed ₹10,000. If any further dividend is distributed during financial year 2026-27 and the total dividend received by a resident individual shareholder exceeds ₹10,000, applicable TDS will be deducted on the gross amount of dividend, including past interim dividends.

TDS Rates by Shareholder Category

The following tables outline the applicable TDS rates for resident and non-resident shareholders:

Resident Shareholders

Non-Resident Shareholders

Document Submission Deadline

Shareholders seeking lower or nil TDS deduction are required to submit the relevant supporting documents to the RTA at einward.ris@kfintech.com on or before May 9, 2026. Any document received for lower tax deduction or no tax deduction after May 9, 2026 will not be considered. Shareholders may submit Form 121 (for nil TDS under applicable conditions) and Form 41 (for non-residents claiming DTAA benefits) through the KFintech portal. The company will verify PAN status from the Income Tax Department's online functionality and deduct TDS accordingly.