360 ONE Subsidiary Approves Acquisition of Quark Solar Private Limited
360 ONE Alternates Asset Management Limited, a wholly owned subsidiary of 360 ONE WAM LIMITED, has approved the acquisition of the entire fully paid up equity share capital of Quark Solar Private Limited. The acquisition targets the existing shareholders (Sellers) of Quark Solar.The board of directors of 360 ONE Alternates Asset Management Limited approved the purchase of Quark Solar Private Limited for a total consideration of Rs. 9,38,50,000/- (Rupees nine crore thirty eight lakh fifty thousand only). The purchase consideration will be fully discharged through cash payment.
On April 20, 2026, the Acquirer entered into a Share Purchase Agreement (SPA) with the Sellers and Quark Solar. Upon consummation of the SPA, Quark Solar will become a wholly owned subsidiary of the Acquirer and a step-down subsidiary of 360 ONE WAM LIMITED.
Profile of the Acquired Entity
Quark Solar Private Limited is a company operating in the Renewable Energy sector, specializing in EPC (Engineering, Procurement, and Construction) and O&M solutions for renewable energy servicing commercial and industrial customers across India. The company was incorporated on July 20, 1998.The acquisition of Quark Solar is noted to not fall within related party transactions, and the promoters/promoter group/group companies of 360 ONE WAM LIMITED do not have any interest in Quark Solar. Furthermore, the acquisition is not related to a company's main line of business, but rather aims to establish the entity as an operating entity for Special Purpose Vehicles (SPVs) of the funds proposed to be set up by the Acquirer under its renewables strategy.
Transaction and Operational Details
The details of the proposed acquisition are summarized below:| Particulars | Details |
|---|---|
| Target Entity | Quark Solar Private Limited |
| Industry | Renewable Energy - EPC and O&M solutions |
| Products/Line of Business | EPC and O&M solutions for renewable energy servicing commercial and industrial customers across India |
| Proposed Acquisition | Entire fully paid up equity share capital of Quark Solar |
| Total Purchase Consideration | Rs. 9,38,50,000/- (Payment of cash) |
| Date of Execution | April 20, 2026 |
Financial History
The following table outlines the historical turnover figures for Quark Solar Private Limited:| Financial Year | Turnover (Rs. Crores) |
|---|---|
| FY 2025-26 | 17.13 |
| FY 2024-25 | 19.42 |
| FY 2023-24 | 18.93 |
Quark Solar Private Limited has its presence in India. The acquisition is indicative of being completed within one month, subject to the satisfactory completion of customary conditions precedent.
360ONE Stock Price Movement
Shares of 360 ONE WAM LIMITED today slipped by 0.75% to settle at ₹1109.25. The equity saw considerable activity, with a total traded volume reaching 671,866 shares during the session.Source:
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