5320512026-06-255320512026-06-252026-06-25iso4217:INRxbrli:pure532051SWELECT ENERGY SYSTEMS LIMITEDSWELECTESNOTLISTEDINE409B01013NewAcquisition (including agreement to acquire)false2026-06-2521:22:002026-06-25The wholly owned subsidiary company i.e., SWELECT SolarKraft Private Limited has entered into an agreement to acquire 49% (forty nine percent) equity shares of GRIDNEX SOLAR POWER PRIVATE LIMITED (‘Gridnex Solar’/‘target entity’), a company based in Haryana, which is in the process of setting up of grid connected Solar PV based Power Plants. SWELECT SOLARKRAFT PRIVATE LIMITEDOthersWholly Owned SubsidiaryGRIDNEX SOLAR POWER PRIVATE LIMITED00100000Networth amount pertains to subscription to MOAfalsefalsetrueSolar power generation and distributionThe object of the acquisition is to expand the Company’s business footprint and expected to augment the consolidated turnover of the Company on a sustained, long-term basis. Gridnex Solar Power Private Limited is in the process of setting up of grid connected Solar PV based Power Plants (SPP) of 8 X 10 MW totaling 80 MW under Surya Mitra Krishi Feeders Scheme, with feeder solarization component of PM KUSUM-C scheme for sale of power to Madhya Pradesh Power Management Company Limited (MPPMCL). The transaction contemplated does not result in a change of control of the target entity, as Apollo Green Energy Limited shall continue to remain the majority shareholder of the Company. Further, the transaction does not alter the management, operations or day-to-day control of the target entity.NAtrueThe acquisition will be made as per the Share Purchase and Shareholders Agreement or such other agreements entered / to be entered amongst the SWELECT SolarKraft Private Limited, Gridnex Solar Power Private Limited and Apollo Green Energy Limited.Cash43100000INR 4,31,20,000/- (Indian Rupees Four Crores Thirty-One Lakhs Twenty Thousand only)4310000000.49GRIDNEX SOLAR POWER PRIVATE LIMITED was incorporated as a wholly owned subsidiary of APOLLO GREEN ENERGY LIMITED in Haryana. Line of business acquired: The target entity is involved in the business of generation, accumulation, purchase, sale, supply and trading of electricity and power generated through renewable energy sources including solar energy, wind energy and other non-conventional energy sources on a commercial basis, including designing, developing, erecting, installing, commissioning, operating and maintaining solar power plants, rooftop solar systems, photovoltaic systems and other renewable energy-based projects on EPC basis or otherwise.2026-03-17INDIA