M&A

M&A

Syrma SGS, Premier Energies JV to acquire solar inverter maker KSolare for Rs.170-Cr

BSE Announcement   BSE Announcement   Business Line   KSolare Energy Pvt Ltd  

Chennai-based, publicly listed electronics manufacturer Syrma SGS Technology Ltd, in a 49:51 joint venture (JV) with Hyderabad-based, publicly listed solar products maker Premier Energies Ltd, is to acquire 100% ownership of Pune-based KSolare Energy Pvt Ltd , a solar inverter manufacturer for INR 170 crore.The JV plans to set up a new brownfield manufacturing facility in Pune to scale up production capacity to one million inverters annually.Founded in 2012, KSolare operates a manufacturing facility in Pune with a production capacity of 5,00,000 inverters per annum. It makes a range of solar inverters, including on-grid, off-grid, and hybrid models, mainly for the residential market. The firm’s FY25 revenue was INR 342 crore.Sunil Sinnarkar, founder and managing director of KSolare, will be the executive director in the combined business.