Varroc Engineering Limited has announced an investment in renewable energy projects to procure captive solar power for its manufacturing facilities in Tamil Nadu and Karnataka, as per the exchange filings.
The company has entered into a Power Delivery Agreement (PDA) and a Share Purchase and Shareholder's Agreement (SP&SA) with two AMPIN Energy special purpose vehicles (SPVs), under which the SPVs will develop solar power projects and supply electricity to Varroc as a captive consumer.
Varroc has signed agreements with AMPIN Energy C&I One Private Limited and AMPIN C&I Power Twelve Private Limited, along with their holding company, AMPIN C&I Power Private Limited.
The SPVs are being established to develop, build and manage renewable power assets in Tamil Nadu and Karnataka, enabling captive solar power supply to Varroc's manufacturing facilities in the two states.
As part of the arrangement, Varroc will acquire equity stakes in both SPVs.
The company will invest up to ₹22.80 lakh to acquire 2.28 lakh equity shares, representing a 0.44% stake in AMPIN Energy C&I One Private Limited.
It will also invest up to ₹25.90 lakh to acquire 2.59 lakh equity shares, representing a 0.83% stake in AMPIN C&I Power Twelve Private Limited. Both investments will be made through cash consideration.
The renewable energy projects will establish captive solar power capacities of 0.40 MWAC/0.60 MWDC in Tamil Nadu and 0.50 MWAC/0.70 MWDC in Karnataka.
The projects are intended to supply solar power to Varroc's manufacturing plants located in these states, supporting the company's renewable energy adoption and captive power procurement strategy.
The company expects the acquisition of the equity stakes to be completed on or before August 30, 2026.
Varroc also clarified that the transaction is not a related-party transaction and that none of its promoters or promoter group entities have any interest in the SPVs.
Read More: Ceigall India Share Price Falls Over 4%; Emerges L1 Bidder for ₹704.70 Crore MoRTH Contract!
As of 08 July 2026, Varroc Engineering share price was closed at ₹636.75 per share, reflecting a decline of 2.21% from the previous trading session.
Varroc Engineering has partnered with AMPIN Energy to secure captive solar power for its manufacturing operations in Tamil Nadu and Karnataka through investments in two renewable energy SPVs. The initiative supports the company's transition towards cleaner energy while strengthening long-term energy security for its manufacturing facilities.
Want to read stock market updates in Hindi? Angel One News gives comprehensive share market news in Hindi.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jul 8, 2026, 5:35 PM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
