Super Sales India Limited announced the acquisition of a 26% stake in Srri Shamundi Spinners Energy Private Limited, a company engaged in solar and wind energy generation. This strategic investment aims to secure solar power for the company’s operations under the group captive model.
Key Highlights:
- Target Company: Srri Shamundi Spinners Energy Private Limited, established in 2017, specializes in solar power generation and distribution.
- Investment: Super Sales India acquired 52 equity shares for a cash consideration of ₹52,000, representing 26% of the paid-up share capital of the target company.
- Objective: The acquisition aligns with the company’s focus on sustainable energy sourcing to support its business operations.
- Revenues: The target company reported revenues of ₹13.18 lakhs in FY24, a steady increase from ₹10.04 lakhs in FY23.
- Transaction Type: The acquisition is between two unrelated entities, ensuring an arm’s length transaction.
This move demonstrates Super Sales India’s commitment to enhancing sustainability in its operations through renewable energy integration. The market responded positively, with shares trading at ₹1,393, up 1.41% during today’s session.
