25-Jun-2026 21:45:07

SWELECT ENERGY SYSTEMS : ACQUISITION OF 49% EQUITY SHARES IN GRIDNEX SOLAR POWER PRIVATE LIMITED

• SWELECT SolarKraft Private Limited, a wholly-owned subsidiary, to acquire 49% equity shares in Gridnex Solar Power Private Limited. • Gridnex Solar is setting up 80 MW of grid-connected Solar PV based Power Plants under PM KUSUM-C scheme. • The transaction is for cash consideration of ₹4.31 Cr (Rupees Four Crores Thirty-One Lakhs Twenty Thousand only). • Gridnex Solar was incorporated on March 17, 2026, and is yet to commence commercial operations; net worth as of March 31, 2026, was ₹0.01 Cr. • The acquisition is not expected to result in a change of control of the target entity.

Swelect Energy Systems Limited

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