<?xml version="1.0" encoding="UTF-8"?>
<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542323</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-18</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">542323</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-18</xbrli:startDate><xbrli:endDate>2026-10-18</xbrli:endDate></xbrli:period></xbrli:context><xbrli:unit id="INR"><xbrli:measure>iso4217:INR</xbrli:measure></xbrli:unit><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:ScripCode contextRef="OneI">542323</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">KPI Green Energy Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">KPIGREEN</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE542W01025</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Update</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="OneI">2026-10-17</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="OneD">10:30:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfInitialAnnouncement contextRef="OneI">2026-08-21</in-capmkt:DateOfInitialAnnouncement><in-capmkt:DateOfLatestAnnouncement contextRef="OneI">2026-10-17</in-capmkt:DateOfLatestAnnouncement><in-capmkt:DateOfReport contextRef="OneI">2026-10-18</in-capmkt:DateOfReport><in-capmkt:UpdateForTheEvent contextRef="OneD">Acquisition (including agreement to acquire)</in-capmkt:UpdateForTheEvent><in-capmkt:BriefDetailsOfInitialAnnouncement contextRef="OneI">Sun Drops Energia Limited ("SDEL"), a material subsidiary of KPI Green Energy Limited, proposed to acquire up to 100% of the equity share capital of DEK and Mavericks Green Energy Limited (DMGEL), for an aggregate consideration of up to Rs. 55.80 crore, to be discharged by issuance of up to 15,89,781 Compulsorily Convertible Preference Shares (CCPS) by SDEL.</in-capmkt:BriefDetailsOfInitialAnnouncement><in-capmkt:ReasonForUpdate contextRef="OneD">Transaction Completed</in-capmkt:ReasonForUpdate><in-capmkt:TransactionCompleted contextRef="OneI">SDEL has completed the acquisition of an additional 43,49,560 equity shares of DMGEL. Accordingly, the total number of equity shares of DMGEL acquired by SDEL stands at 1,50,97,320 equity shares, representing 88.37% of the total paid-up equity share capital of DMGEL on October 17, 2026.
</in-capmkt:TransactionCompleted><in-capmkt:AmountOfTransactionCompleted contextRef="OneD" unitRef="INR" decimals="-5">493100000</in-capmkt:AmountOfTransactionCompleted><in-capmkt:DateOfTransactionCompleted contextRef="OneI">2026-10-17</in-capmkt:DateOfTransactionCompleted><in-capmkt:PercentageOfTransactionCompleted contextRef="OneI" unitRef="pure" decimals="INF">0.8837</in-capmkt:PercentageOfTransactionCompleted></xbrli:xbrl>
