Nandan Denim Limited to acquire 6.1% stake in Opera Vayu for renewable energy procurement

Nandan Denim Limited's Board of Directors has approved the acquisition of 6.1% equity shareholding in Opera Vayu (Narmada) Private Limited, a Special Purpose Vehicle established for renewable energy generation. The decision was taken during a board meeting held on April 17, 2026, which commenced at 4:00 P.M. and concluded at 5:25 P.M. The acquisition will be executed through a Share Transfer cum Shareholders' Agreement with Opera Vayu (Narmada) Private Limited and Shivman Wind Energy Private Limited, the promoter and project implementer.

Transaction Details

The company will invest ₹4,00,20,960 to acquire 40,02,096 equity shares of face value ₹10 each, representing a 6.1% stake in the SPV. This acquisition falls under the captive power route, where Nandan Denim will act as a user member. As part of the arrangement, the company will provide an irrevocable bank guarantee of ₹1.90 Crores covering three months of power billing. The transaction is structured as a cash consideration and is not classified as a related party transaction.

Target Entity Overview

Opera Vayu (Narmada) Private Limited was incorporated on August 1, 2022, and operates in the generation and transmission of renewable energy, specifically wind and solar power. The SPV's registered office is located at Vallkeshvari P-III P.N Shreeji Plaza SN-201 Vill Jamnagar, Jamnagar, Gujarat, India. The entity has reported nil turnover for the past three financial years.

Financial Parameter Amount Authorized Capital ₹66.00 Crores Paid-up Capital ₹65.93 Crores Cost of Acquisition ₹4,00,20,960 Bank Guarantee ₹1.90 Crores Equity Shares Acquired 40,02,096 Face Value per Share ₹10

Strategic Objectives

The acquisition aligns with Nandan Denim's objective to increase renewable power sourcing and reduce power costs at its Bareja Plant. Under the group captive renewable energy power plant arrangement, the company will procure 4.3 MW of power out of the total 23.1 MW wind and 25 MW DC solar capacity. This 25-year power purchase agreement will enable the company to secure wind and solar power at competitive market rates. The acquisition is scheduled to be completed by June 30, 2026, and does not require any specific governmental or regulatory approvals.

Nandan denim Limited has submitted its quarterly compliance certificate under SEBI regulations for the quarter ended March 31, 2026. The textile company filed the mandatory documentation with stock exchanges on April 8, 2026, maintaining its regulatory compliance obligations.

Quarterly Compliance Filing

The company submitted its certificate under regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 to both BSE Limited and National Stock Exchange of India Limited. The filing was made through the company's registrar and share transfer agent, Datamatics Business Solutions Limited.

Filing Details: Information Quarter Period: March 31, 2026 Filing Date: April 8, 2026 Regulation: SEBI 74(5) RTA: Datamatics Business Solutions Limited Scrip Code: 532641 Scrip Symbol: NDL

Certificate Confirmation

Datamatics Business Solutions Limited, serving as the registrar and share transfer agent, confirmed that during the quarter ended March 31, 2026, no requests for dematerialization of shares were received. The certificate was signed by Satish Patil, Manager at Datamatics Business Solutions Limited.

Regulatory Compliance

Company Secretary and Compliance Officer Rinku Patel digitally signed and submitted the compliance documentation. The certificate was also forwarded to Central Depository Services India Limited and National Securities Depository Limited as part of the regulatory requirements.

The filing demonstrates the company's adherence to SEBI's quarterly reporting requirements under the depositories and participants regulations. Such compliance certificates are mandatory for listed companies to maintain transparency in their share transfer and dematerialization processes.

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