Orient Green Power Company has acquired 61,44,490 equity shares in Delta Renewable Energy Private Limited, a subsidiary, as part of the third tranche of a preferential issue. The shares were acquired at a face value of ₹10 each, amounting to a total investment of ₹6,14,44,900.
Delta Renewable Energy, incorporated on November 29, 2023, has a post-issue paid-up equity share capital of ₹12,60,93,330. The company has successfully commissioned a 7 MW AC / 9.8 MW DC solar power project at Krishnapuram and Veeraganallur Villages in Thiruvallur District, Tamil Nadu. Additionally, it is developing a 17.6 MW AC (24.64 MW DC) solar power project in Thiruvannamalai District, Tamil Nadu, which is currently underway.
The transaction is classified as a related party transaction under SEBI LODR Regulations, as Orient Green Power holds a 70% equity share capital in Delta. The acquisition was conducted on an arm’s length basis, and the company’s holding in Delta remains unchanged at 70% following the allotment.
The acquisition aligns with Orient Green Power’s objective to promote and develop renewable energy capacity. The investment in Delta is aimed at furthering solar power project development, with the shares being subscribed through a preferential allotment alongside other participants.
No governmental or regulatory approvals were required for this acquisition, and the investment is structured to be completed in multiple tranches as per the terms of the offer. The consideration for the acquisition was made in cash.
Delta Renewable Energy, as a wholly owned subsidiary of Orient Green Power, focuses on renewable energy projects. The company commenced its business operations on December 05, 2025, and has been actively developing solar power projects in Tamil Nadu.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).