Rane Subsidiary Acquires Equity in Hexa Energy for Solar Power Procurement
M/s. Rane Steering Systems Private Limited (RSSL), a wholly owned subsidiary of Rane Holdings Limited, has entered into significant arrangements to secure renewable energy resources. The company has signed a Power Purchase Agreement (PPA) with Hexa Energy BH Eleven Private Limited ('Hexa') and simultaneously executed a Share Subscription and Shareholders' Agreement with Hexa for the acquisition of equity shares in the entity.This strategic move enables RSSL to procure renewable energy from Hexa, positioning the transaction as crucial for regulatory compliance regarding electricity consumption under Indian Electricity laws. The PPA covers procuring solar energy for the company’s plant located in Bawal, Haryana.
RSSL is acquiring a 26% stake in Hexa through this arrangement. The acquisition was completed with a consideration of Rs. 0.78 crores and falls under a cash consideration model.
Hexa Energy BH Eleven Private Limited, which incorporated on February 24, 2026, operates within the Renewable Energy Solar Power Sector, specializing in generation, transmission and distribution of electricity through renewable sources of energies. The combined transaction fulfills the requirement for captive power for RSSL.
Key details regarding the acquisition are summarized below:
| Detail | Information |
|---|---|
| Target Entity | M/s. Hexa Energy BH Eleven Private Limited (Incorporated Feb 24, 2026) |
| Industry | Renewable Energy - Solar Power Sector |
| Shareholding Acquired | 26% of paid-up capital of Hexa |
| Cost of Acquisition | Rs. 0.78 crores |
| Nature of Transaction | Cash Consideration |
| Timeline | 30 days from the date of signing Power Purchase Agreement |
RANEHOLDIN Stock Price Movement
Shares of Rane Holdings Limited slipped by 2.56% to settle at ₹1383.4 today, registering a decline of ₹36.30. The stock's trading concluded amid a total traded volume of 12,121 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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