On Friday, New Delhi, May 16 — Surana Solar Ltd announced that its board has approved the divestment of a 49 percent equity stake in its wholly owned subsidiary, Surana Technologies Private Limited. The stake will be sold to Baidyanath Power Private Limited.
The company confirmed in a regulatory filing that the transaction will be executed on May 16, 2025, following board approval at a meeting held on May 3, 2025.
Surana Technologies is currently engaged in setting up a 54MW solar power project in Maharashtra. Following the completion of the transaction, it will cease to be a wholly owned subsidiary but will continue to operate as a subsidiary of Surana Solar.
The total consideration for the 49 percent stake sale is ₹2.03 crore. The transaction is expected to be completed by May 30, 2025.
Surana Solar clarified that Surana Technologies has not yet commenced commercial operations and therefore has not contributed to the company’s turnover, revenue, income, or net worth.
The company confirmed in a regulatory filing that the transaction will be executed on May 16, 2025, following board approval at a meeting held on May 3, 2025.
Surana Technologies is currently engaged in setting up a 54MW solar power project in Maharashtra. Following the completion of the transaction, it will cease to be a wholly owned subsidiary but will continue to operate as a subsidiary of Surana Solar.
The total consideration for the 49 percent stake sale is ₹2.03 crore. The transaction is expected to be completed by May 30, 2025.
Surana Solar clarified that Surana Technologies has not yet commenced commercial operations and therefore has not contributed to the company’s turnover, revenue, income, or net worth.