News Orders & Deals S.J.S. Enterprises Completes Strategic Acquisition of DB Renewes for Wind Power SupplyS.J.S. Enterprises Completes Strategic Acquisition of DB Renewes for Wind Power Supply
S.J.S. Enterprises Limited has successfully completed its strategic acquisition of a 2.08% stake in DB Renewes Private Limited for ₹72 lakhs, establishing itself as a captive consumer of wind power. The comprehensive agreement includes annual supply of up to 36 lakh units from DB Renewes' 27 MW wind power project in Karnataka, marking the company's entry into sustainable energy partnerships.
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S.J.S. Enterprises Limited has successfully completed its strategic acquisition of DB Renewes Private Limited, marking a significant milestone in the company's renewable energy initiatives. The transaction involves the acquisition of a 2.08% stake for ₹72 lakhs, coupled with a comprehensive energy supply agreement that positions the company as a captive consumer of wind power.
Transaction Completion Details
The company has entered into Share Purchase and Shareholders' Agreement along with Energy Purchase Agreement with Doddanavar Global Energy Private Limited and DB Renewes Private Limited. The acquisition involves subscription of 28,800 equity shares at face value of ₹250 per share, issued at par.
| Parameter: | Details |
|---|---|
| Shares Acquired: | 28,800 equity shares |
| Face Value per Share: | ₹250 |
| Total Investment: | ₹72 lakhs |
| Shareholding Percentage: | 2.08% |
| Annual Wind Power Supply: | Up to 36 lakh units |
About DB Renewes Private Limited
DB Renewes Private Limited, incorporated on November 18, 2011, operates a 27 MW wind-based power generation project in Karnataka. The company has established 10 wind turbine generators of 2.7 MW each at Nagral and Hirekudi Villages in Chikodi Taluk, Belagavi District. The project operates as a captive power facility under the Electricity Act 2003 and Electricity Rules 2005.
| Financial Parameter: | Amount |
|---|---|
| Authorised Capital: | ₹50 crores |
| Paid-up Capital: | ₹34.51 crores |
| Current Turnover: | ₹24.08 crores |
| Previous Years Turnover: | Nil (FY 2022-23, FY 2023-24) |
Strategic Benefits and Timeline
The acquisition transforms S.J.S. Enterprises Limited into a captive consumer of renewable energy, providing access to sustainable wind power for its operations. The company expects to complete the transaction tentatively by April 30, 2026. This strategic move aligns with the company's diversification into renewable energy assets while securing long-term energy supply arrangements.
The transaction represents an arm's length deal with no related party implications, as confirmed in the regulatory disclosure. DB Renewes Private Limited is managed by its majority shareholder Doddanavar Global Energy Private Limited, with no direct or indirect interest from S.J.S. Enterprises' promoter groups.
Historical Stock Returns for SVJ Enterprises
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.99% | -14.25% | -10.44% | +108.19% | +146.77% | +1,435.92% |
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