Premier Energies and Syrma SGS announce acquisition of K Solare

Premier Energies Limited and Syrma SGS Technology Limited have entered into definitive agreements to acquire 100% ownership of KSolare Energy Private Limited, a leading solar inverter manufacturer, in the ratio of 51:49 respectively for a total consideration of INR 170 crore.

Founded over 13 years ago, KSolare is a well-established player in India's solar inverter industry, with FY 2025 revenue of INR 342 crore. The company operates a manufacturing facility in Pune with a production capacity of 500,000 inverters per annum. It specializes in designing and manufacturing a wide range of solar inverters including on-grid, off-grid, and hybrid models mainly for the residential market.

The acquisition marks Premier Energies and Syrma SGS's foray into the fast-growing residential solar inverter segment, aligned with the Government of India's PM Surya Ghar Muft Bijli Yojana. The joint-venture plans to set up a new brownfield manufacturing facility in Pune to scale up production capacity to one million inverters annually. The business will benefit from Premier Energies extensive sales and distribution network in the solar sector and Syrma SGS's expertise in electronics manufacturing. Mr. Sunil Sinnarkar, Founder and Managing Director of KSolare, will take on the position of Executive Director in the combined business to ensure a smooth transition.

"This partnership represents a pivotal step in strengthening India's domestic manufacturing eco-system and advancing our collective clean energy goals," said Chiranjeev Saluja, Managing Director & CEO, Premier Energies. "Together with SYRMA SGS, we aim to make high-quality Indian-made inverters accessible to every rooftop under the PM Surya Ghar initiative."

Commenting on the collaboration, Mr. Jasbir Gujral, Managing Director, Syrma SGS, said, "This collaboration reflects Syrma SGS's commitment to advancing India's clean energy future through high-reliability manufacturing to deliver next-generation inverter platforms. We will combine our manufacturing expertise with Premier's leadership in solar energy to offer bestin-class, affordable inverter solutions for India's rapidly growing residential market."

Shares of Premier Energies Limited was last trading in BSE at Rs. 1070.05 as compared to the previous close of Rs. 1058.60. The total number of shares traded during the day was 39617 in over 1923 trades.

The stock hit an intraday high of Rs. 1080.30 and intraday low of 1054.45. The net turnover during the day was Rs. 42429984.00.

Shares of Syrma SGS Technology Limited was last trading in BSE at Rs. 768.75 as compared to the previous close of Rs. 795.45. The total number of shares traded during the day was 35941 in over 2044 trades.

The stock hit an intraday high of Rs. 801.10 and intraday low of 765.60. The net turnover during the day was Rs. 27927347.00.

Source : Equity Bulls

Keywords

PremierEnergies INE0BS701011 ElectricalEquipment SyrmaSGSTechnology INE0DYJ01015 IndustrialElectronics Acquisition KSolareEnergy