Enviro Infra Engineers Ltd on April 28, 2026 said its wholly owned subsidiary, EIE Renewables Private Limited, has signed a Share Purchase Agreement to acquire 100 per cent stake in Suyog Urja Limited in a phased transaction aimed at strengthening its renewable energy business, particularly in wind power.
Phased stake buyout, completion by July 2028
As part of the deal, EIE Renewables will acquire an initial 51 per cent stake in Suyog Urja, with the remaining 49 per cent to be purchased over 27 months. The total consideration is approximately Rs 311 crore and will be paid in cash. The transaction is expected to be completed on or before July 31, 2028.
Enviro Infra Engineers said the acquisition is not a related party transaction and that neither its promoter nor promoter group holds any interest in Suyog Urja. The company added that the deal will help EIE Renewables expand into the wind energy segment, strengthen its renewable portfolio, diversify its energy mix and enhance geographic presence.
As part of the arrangement, former promoter Chetraj Narbahadur Khadka will remain associated with the company for three years to provide transitional leadership and strategic oversight. Shares of Enviro Infra Engineers Ltd closed 3.57 per cent higher at Rs 216.94 on the NSE on April 28. |
