Surana Solar board approves 49 pc equity divestment in Surana Technologies – EQ
In Short : Surana Solar’s board has approved the divestment of a 49% equity stake in its subsidiary, Surana Technologies Pvt Ltd, to Baidyanath Power Pvt Ltd for ₹2.03 crore. The transaction is set to conclude by May 30, 2025. Post-divestment, Surana Technologies will continue as a subsidiary but not be wholly owned. The company is developing a 54 MW solar project in Maharashtra.
In Detail : New Delhi – Surana Solar on Friday said its board has approved the proposal to divest 49 per cent equity share in its arm Surana Technologies.
The transaction for the sale of a 49 per cent equity stake held in Surana Technologies Private Limited will be executed on Friday with Baidyanath Power Private Limited, according to a regulatory filing.
The board of directors, at their meeting held on May 3, 2025, has approved the divestment/sale of 49 per cent of the equity stake held by Surana Technologies Pvt Ltd, a wholly owned subsidiary of the company, which is presently engaged in the implementation of 54MW Solar Power Project in Maharashtra, the filing said.
Pursuant to this transaction, Surana Technologies Pvt Ltd will cease to be a wholly-owned subsidiary and continue as a subsidiary of the company.
The expected data of completion of this transaction is May 30, 2025, and consideration for this stake sale is Rs 2,03,61,460, the filing added.
There is no contribution to turnover, revenue, income, or net worth by Surana Technologies Pvt Ltd, as the company is yet to commence its business activity.
