Servotech acquires 27% stake in Rhine Solar for Rs 12.15 crore to strengthen backward integration
By Aditya Bhagchandani Published on June 20, 2025, 16:33 IST
Servotech Renewable Power System Limited has announced the acquisition of a 27% stake in Rhine Solar Limited for Rs 12.15 crore in an all-cash deal. The strategic investment, approved at the board meeting held on June 20, 2025, aims to boost Servotech's backward integration capabilities in the solar segment.
The acquisition involves the purchase of 9,50,106 equity shares at Rs 127.88 per share, valuing Rhine Solar at a post-money basis. The deal is expected to close within 90 days.
Rhine Solar, incorporated in December 2014, is engaged in manufacturing and distribution of a wide range of solar products such as panels, lamps, cookers, geysers, and irrigation systems across India. The company reported a provisional turnover of Rs 82.41 crore for FY25, up from Rs 60 crore in FY24 and Rs 53.9 crore in FY23.
Servotech clarified that the transaction does not fall under related-party transactions and no regulatory approvals are required. This move is expected to enhance the company's supply chain efficiency and solidify its position in the renewable energy sector.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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