SPR Auto Technologies has entered into a share subscription agreement to acquire a 23.21% stake in Sunsure Solarpark Forty Private Limited. The investment, valued at ₹6 crore, supports a group captive solar power project.

SPR Auto Technologies executed the agreement on August 25, 2026, alongside a power purchase agreement with the target entity. This move aligns with the company’s strategy to optimize energy costs and meet regulatory requirements for captive power consumption under the Electricity Act, 2003.

Transaction Structure

The acquisition involves a cash consideration payable in two tranches, subject to valuation and closing conditions:

The total equity subscription amount of ₹6.00 crore is based on the fair market value of the equity shares as per a valuation report to be obtained under applicable law.

Target Entity Details

Sunsure Solarpark Forty Private Limited is a wholly owned subsidiary of Sunsure Energy Private Limited. Incorporated on January 8, 2025, the special-purpose vehicle has not yet commenced commercial operations and reported nil turnover since inception.

Key details of the target entity include:

• Registered Office: Gurgaon, Haryana
• Authorized Share Capital: ₹10,00,000 (1,00,000 equity shares of ₹10 each)
• Paid-up Share Capital: ₹1,00,000 (10,000 equity shares of ₹10 each)
• Industry: Renewable energy and power generation

The company confirmed that the proposed acquisition is not a related-party transaction. Neither the promoter, promoter group, nor any group companies hold an interest in Sunsure Solarpark.

Operational Impact

Simultaneously with the equity subscription, SPR Auto Technologies signed a power purchase agreement dated August 25, 2026. This agreement secures the procurement of solar power from the Sunsure Solarpark project specifically for the company’s manufacturing facility at Pathredi, Rajasthan.

No governmental or regulatory approvals are required for this acquisition. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SPR Auto Technologies Limited (formerly Shriram Pistons & Rings Limited) has completed its qualified institutional placement (QIP), allotting 23,36,448 equity shares to 45 investors at an issue price of ₹4,280 per share. The company raised an aggregate amount of ₹9,99,99,97,440 (nearly ₹1,000 crore) through the issuance.

The Finance and Investment Committee approved the allotment during a meeting held on August 20, 2026. The QIP opened on August 17, 2026, with a floor price of ₹4,438.20 per share, and closed on August 20, 2026. The final issue price included a discount of ₹158.20 per share (3.56% of the floor price).

Allotment details

The allotment was made to 45 qualified institutional buyers. Key investors include Abu Dhabi Investment Authority - Monsoon, Prazim Trading and Investment Company Private Limited, ICICI Prudential Mutual Fund - Active Momentum Fund, and SBI Automotive Opportunities Fund, each receiving 7% of the total issue size. Other significant participants include Kotak Small Cap Fund (6.09%), BlackRock Global Funds - India Fund (4.50%), and Ashoka Whiteoak ICAV - Ashoka Whiteoak India Opportunities Fund (3.88%).

Capital structure update

Following the allotment, the paid-up equity share capital of SPR Auto Technologies stands increased to ₹46,38,62,720, consisting of 4,63,86,272 equity shares with a face value of ₹10 each. The company will submit the pre-issue and post-issue shareholding patterns to the relevant stock exchanges in compliance with Regulation 31 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory compliance

The disclosure serves as compliance under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The trading window for designated persons remains closed until 48 hours after the determination of the final issue price, in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's Code for Prevention of Insider Trading.