Surana Telecom and Power Limited Divests 49% Stake in Bhagyanagar Solar Private Limited
Surana Telecom and Power Limited, formerly known as Surana Telecom Ltd., announced on May 19, 2026, that its Board of Directors had approved the proposal for the divestment of its 49% equity stake in M/s. Bhagyanagar Solar Private Limited.Following the Board meeting, the company confirmed that M/s. Bhagyanagar Solar Private Limited will cease to be a wholly owned subsidiary and will transition to a subsidiary company.
The sale of the equity stake marks a key operational change for Surana Telecom and Power Limited. The transaction details provide a clear outline of the sale parameters, including the buyer, the transaction value, and the expected timeline.
Transaction Details Summary
The divesting sale of the stake is set to proceed with Lakhanlal Anand Kumar Trade Private Limited as the buyer. The transaction is not classified as a related party transaction.Key details regarding the divestment are presented below:
| Particulars | Detail |
|---|---|
| Transaction Value (Consideration) | Rs. 1,14,17,000/- (Rupees One Crore Fourteen Lakhs Seventeen Thousand Only) |
| Agreement Date | 19.05.2026 |
| Expected Completion Date | 20.06.2026 (Tentatively) |
| Buyer Identity | Lakhanlal Anand Kumar Trade Private Limited (Buyer does not belong to promoter/promoter group/group companies) |
| Revenue/Net Worth Contribution | There is no contribution to turnover or revenue or income and net worth by Bhagyanagar Solar Private Limited, as the Company is yet to commence its operations. |
The details confirm that the sale is not dependent on any slump sale and is expected to be completed by June 20, 2026. Narender Surana, Managing Director, oversaw the approval and details of the divestment.
SURANAT&P Stock Price Movement
Today, Surana Telecom and Power Limited shares edged higher to close at ₹18.64, gaining 5.28% for the day. The equity saw steady trading activity, moving on a volume of 100,407 shares.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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