Krystal Integrated Services Limited Incorporates Special Purpose Vehicle for Solar Energy Project
Krystal Integrated Services Limited (KISL) announced the incorporation of a Special Purpose Vehicle (SPV), Advait Krystal Solar Energy SPV Private Limited, on March 18, 2026. The SPV was incorporated jointly with M/s. Advaita Enterprises International Private Limited, under the Companies Act, 2013, with Corporate Identification Number U35105MH2026PTC469579.The authorized and subscribed capital of Advait Krystal Solar Energy SPV Private Limited is ₹1,00,000. KISL subscribed to 49% of the share capital, amounting to ₹49,000. The SPV is located in the state of Maharashtra and will focus on producing, generating, transmitting, distributing, and supplying solar energy, wind energy, and other forms of energy.
The incorporation of the SPV is linked to a Letter dated January 16, 2026, from the Directorate of Medical Education & Research (DMER), Maharashtra, for the execution of rooftop solar projects across government hospitals and medical colleges, where the incorporation of an SPV is a condition.
The SPV's objects include undertaking renewable energy projects using various models, providing engineering and technical services, and developing energy storage solutions.
The SPV qualifies as an Associate Company of KISL and, therefore, a related party. The subscription to share capital was conducted on an arm's length basis.
| Disclosure Requirements | Details |
|---|---|
| Name of the target entity | Advait Krystal Solar Energy SPV Private Limited ('Special Purpose Vehicle or SPV or AKSESPL') |
| Authorised Capital | ₹1,00,000 |
| Subscribed/Paid-up Share capital | ₹1,00,000 |
| CIN | U35105MH2026PTC469579 |
| Industry | Renewable Energy (Solar, Wind, and Other Renewable Energy Industry) |
| Consideration | Cash Consideration: ₹ 49,000 |
| Percentage of shareholding | 49% |
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