Syrma SGS Technology Extends Acquisition Timeline for Ksolare Energy Stake to April 2026

Syrma SGS Technology Limited has announced an extension of the timeline for its strategic acquisition of Ksolare Energy Private Limited. The company notified stock exchanges on February 21, 2026, regarding the revised schedule for completing the transaction. Transaction Details The acquisition involves a 49% equity stake in Ksolare Energy Private Limited, structured as a joint venture with Premier Energies Limited. All parties involved have mutually agreed to extend the Long-Stop Date for fulfilling conditions precedent. Parameter: Details Acquisition Target: Ksolare Energy Private Limited Equity Stake: 49% Joint Venture Partner: Premier Energies Limited Extended Deadline: April 15, 2026 Previous Disclosures: October 23, 2025 and January 29, 2026 Regulatory Compliance The announcement was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. Syrma SGS Technology has maintained transparency by providing regular updates to stakeholders through multiple disclosures since the initial announcement in October 2025. Corporate Communication The formal communication was signed by Bhabagrahi Pradhan, Company Secretary (Membership No. F4921), from the company's Gurgaon office. The disclosure documents have been made available on the company's official website under the investor relations section for stakeholder access. This extension provides the parties with additional time to complete the necessary regulatory approvals and commercial arrangements required for the successful completion of the acquisition in the renewable energy sector. Syrma SGS Technology Limited has submitted its quarterly monitoring agency report for Q3FY26, demonstrating complete utilization of its Rs.1,000.00 crore Qualified Institutional Placement (QIP) proceeds. The report, filed with stock exchanges on January 30, 2026, was prepared by CARE Ratings Limited as the designated monitoring agency under SEBI regulations. QIP Proceeds Utilization Overview The monitoring report confirms that all QIP funds have been fully deployed across the three designated categories outlined in the original placement document. The company successfully completed its fund utilization program during the quarter ended December 31, 2025. Category Allocated Amount (Rs. Crore) Utilized Amount (Rs. Crore) Status Debt Repayment 750.00 750.00 Complete General Corporate Purposes 224.262 224.262 Complete Issue Related Expenses 25.738 25.738 Complete Total 1,000.00 1,000.00 Complete Strategic Acquisition Through QIP Funds The company utilized the entire Rs.224.262 crore allocated for general corporate purposes toward acquiring a 60% stake in Elcome Integrated Systems Private Limited. This acquisition involved an aggregate consideration of approximately Rs.235.00 crore through a combination of primary and secondary investment structures. Debt Repayment Activities During Q3FY26, Syrma SGS deployed Rs.66.538 crore for working capital loan repayment, completing its debt reduction objectives. The quarterly utilization included: Rs.50.00 crore toward Commercial Paper (CP) repayment Rs.16.538 crore for working capital loan settlement Rs.0.048 crore carried forward from the previous quarter for working capital purposes Regulatory Compliance and Monitoring CARE Ratings Limited, serving as the monitoring agency under the August 07, 2025 agreement, confirmed no deviations from the objects stated in the offer document. The report indicates full compliance with SEBI regulations regarding fund utilization and disclosure requirements. Compliance Parameter Status Comments Utilization per Offer Document Yes No deviations observed Shareholder Approval for Deviations Not Applicable No material deviations Statutory Approvals Not Applicable All arrangements operational Technical Collaborations Yes All arrangements in operation Issue Timeline and Structure The QIP issue was conducted between August 07, 2025, and August 12, 2025, raising Rs.1,000.00 crore through equity shares. The company operates in the Industrial Products sector under the leadership of promoters Sandeep Tandon, Jasbir Singh Gujral, Veena Kumari Tandon, and Tancom Electronics Private Limited. The monitoring report, certified by Walker Chandiok & Co LLP on January 25, 2026, demonstrates the company's efficient capital deployment strategy and adherence to regulatory frameworks governing QIP proceeds utilization. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. 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