Surana Solar's Strategic Stake Sale in Surana Technologies

Surana Solar has announced the approval of its board to divest 49% of equity in its subsidiary, Surana Technologies. The sale is set to occur on May 3, 2025, with Baidyanath Power Private Limited. This transaction, valued at Rs 2.03 crore, will change the subsidiary's ownership structure.

Surana Solar has made a strategic decision to divest 49% of its equity stake in its subsidiary, Surana Technologies. The company's board approved this significant move aimed at reshaping the subsidiary's ownership structure.

The transaction, scheduled for May 3, 2025, involves the sale of the equity stake to Baidyanath Power Private Limited. This decision was shared through a regulatory filing.

With the stake sale valued at Rs 2,03,61,460, Surana Technologies will cease to be wholly owned by Surana Solar but will remain a subsidiary. The company is currently working on a 54MW solar power project in Maharashtra.

(With inputs from agencies.)