16-05-2025
Surana Solar board approves 49% equity divestment in Surana Technologies
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.
