Super Sales India Limited has recently disclosed an investment in Renuka Green Energy Private Ltd, a solar power generation company. As per the disclosure required by Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, the company has invested in Renuka Green Energy for the purpose of purchasing solar power, following the group captive concept.

Renuka Green Energy Pvt Ltd, incorporated on 11th January 2024, is primarily engaged in the business of generating solar energy and selling it to various entities. However, the company’s revenue from operations for the year 2023-24 was Nil, as it was newly established. The acquisition involves the purchase of 416 equity shares, representing 20.8% of the paid-up capital of Renuka Green Energy, and the total cost of acquisition is Rs. 41,600. This acquisition is a cash transaction.

This acquisition is not a related party transaction, and there is no involvement of the promoter group in the acquired entity, ensuring that the deal is at arm's length. The company’s primary goal is to purchase solar power to meet its own energy requirements, aligning with renewable energy objectives under the group captive concept. The transaction is set to be completed on 24th December 2024.

Renuka Green Energy operates within the solar energy industry, with its registered office in Coimbatore, and the company has been established for the purpose of contributing to India’s solar power sector. Although the company has had no revenue in the previous years, it has significant potential for growth as the market for renewable energy continues to expand.

This strategic acquisition is in line with Super Sales India's commitment to sustainable business practices and will help reduce energy costs by leveraging solar power solutions.

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