Saatvik Green Energy Limited has officially announced the acquisition of a majority stake in Melcon Transformers and Electricals Private Limited. On April 23, 2026, the company entered into a Share Purchase Agreement to acquire 8,000 equity shares, representing an 80% stake in the target entity. This strategic move is intended to diversify Saatvik’s portfolio into transformer manufacturing and strengthen its position within the power value chain.

The acquisition involves a total cash consideration of INR 24 Million. Melcon Transformers, incorporated in 2005 and based in Jaipur, specializes in the manufacturing of various transformer types, including oil-type and energy-efficient models ranging from 5 KVA to 12,500 KVA. The transaction is expected to be completed within 30 days and will allow Saatvik to enhance its execution efficiency and supply chain control by integrating critical power transmission equipment into its operations.

Saatvik Green Energy Limited is a prominent Indian solar photovoltaic module manufacturer with a current operational capacity of 4.8 GW in Ambala, Haryana. The company is aggressively scaling its footprint, developing a new greenfield integrated facility in Odisha designed for 4 GW of module and 4.8 GW of solar cell capacity. In recent industry developments from 2025, the solar sector saw significant momentum as firms like Saatvik positioned themselves to meet India’s target of 500 GW of non-fossil fuel capacity by 2030. Melcon brings a history of consistent orders from Public Sector Undertakings (PSUs) and private firms, further stabilizing the group’s revenue streams.

For the most recently reported annual figures, Melcon Transformers and Electricals recorded a turnover of INR 41.73 Million (₹4,17,25,820) for FY 2025. This follows a turnover of INR 65.27 Million in FY 2024 and INR 83.20 Million in FY 2023. The parent company, Saatvik, continues to attract attention in the renewable energy space as it transitions from a pure-play solar manufacturer to an integrated energy solutions provider. While the notice does not highlight specific “famous” individual investors, the company remains a key player in the Saatvik Group, focusing on high-growth utility-scale and industrial solar segments.