Varvee Global Ltd has expanded its business operations by incorporating a wholly-owned subsidiary, Varvee Energy Private Limited, on July 07, 2026, to enter the renewable energy sector. The new entity has been established to undertake activities including the generation, transmission, distribution, and trading of renewable and sustainable energy solutions. This strategic move marks the company's entry into the renewable energy industry, diversifying its portfolio beyond its existing operations.

The incorporation follows a previous disclosure made on May 27, 2026, regarding the proposal to form the subsidiary. Varvee Energy Private Limited has received the Certificate of Incorporation from the Registrar of Companies, confirming its legal status as a wholly-owned subsidiary of Varvee Global Ltd. No further governmental or regulatory approvals are required for the incorporation, as the necessary certification has already been obtained.

Varvee Global Ltd has subscribed to the initial paid-up share capital of the subsidiary through cash consideration via banking channels. The total investment amounts to ₹10,00,000, divided into 1,00,000 equity shares with a face value of ₹10 each. Consequently, Varvee Global Ltd holds 100% of the paid-up share capital of Varvee Energy Private Limited, establishing complete control over the new entity.

Key Details of the Incorporation

The subsidiary's primary focus will be on the renewable energy sector, encompassing a wide range of activities such as supply, storage, and other allied services related to sustainable energy. This initiative aligns with the growing emphasis on green energy solutions within the industry. The filing was submitted to the BSE Ltd and the National Stock Exchange of India Ltd in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Promoters of Varvee Global have confirmed that no new encumbrance was created on the company's shares during the financial year ending 31-Mar-2026. The declaration, submitted pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, covers shares held directly or indirectly by the promoter group. This disclosure ensures that any charges on shares have been previously reported to the stock exchanges.

Ashish Virendrabhai Shah submitted the annual declaration on April 2, 2026, in Ahmedabad. The filing was made on behalf of 12 individuals and three entities within the promoter group, confirming compliance with regulatory requirements regarding share pledging or encumbrance.

Entities Covered in Declaration

The declaration was submitted for the following individuals and entities classified as promoters and promoter group: