Zodiac Energy Acquires 51% Stake in Priyapritam Solar LLP
By Ankur Chandra | Updated at: May 31, 2025 07:30 PM IST
Zodiac Energy Limited has announced the successful acquisition of a 51% stake in Priyapritam Solar Projects LLP, marking a strategic move to bolster its presence in the renewable energy sector.
Project Overview
The acquisition, completed on May 21, 2025, involved a cash consideration of ₹50,000. Zodiac Energy now holds a 51% ownership in the LLP, which was incorporated on November 11, 2020, and operates in the business of setting up solar power plants, generating solar energy, and distributing solar electricity.
| Details | Value/Info |
|---|---|
| Name of Target | Priyapritam Solar Projects LLP |
| Stake Acquired | 51% |
| Consideration | ₹0.50 lakh (cash) |
| Industry | Solar Power Plants & Energy |
| Turnover (FY24, FY23, FY22) | ₹0 |
| Net Worth and PAT | ₹0 |
| Country of Presence | India |
| Acquisition Completion | Completed |
Strategic Rationale
The acquisition is aligned with Zodiac’s core business objectives. According to the company’s filing, “The object of the LLP is in line with the object of the company. The said acquisition would result in further expansion of the business of our Company.”
Related Party Transaction & Governance
This acquisition is categorized as a related party transaction, with prior approval secured from both the Board and Audit Committee on May 16, 2025. While promoters and their associates hold interests in the LLP, the transaction was executed at arm’s length and is not deemed material in nature.
Additional Disclosures
- No governmental or regulatory approvals were required.
- The acquisition was executed in a single tranche.
- Promoters and promoter group members have declared an interest in the transaction.
- Zodiac Energy had no prior holding in the LLP.
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REF: https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_1446739_22052025021656_WEB.xml
