KEI Industries Limited has formally announced its decision to enter into a Share Subscription and Shareholders’ Agreement (SSSA) and a Solar Power Purchase Agreement (SPPA), executed on May 20, 2026. The company plans to acquire a 26% stake in Solarcraft Power India 24 Private Limited through an investment of Rs. 5.90 Crores, utilized to subscribe to Equity Share Capital and Compulsory Convertible Debentures (CCD).

This strategic investment is designed to secure solar power as a captive consumer, specifically targeting a capacity of up to 11.25 MW in the State of Rajasthan. By entering this agreement, the company aims to enhance its renewable energy supply and fulfill its commitments toward sustainable power generation. The transaction is structured as a cash consideration and is conducted at arm’s length, with no interest from the promoter or promoter group companies. The acquisition is subject to customary conditions precedent and is anticipated to be completed within 90 days.

KEI Industries Limited is a leading manufacturer in the electrical equipment industry, specializing in a comprehensive range of wires and cables, including Extra-High Voltage (EHV), Medium Voltage, and Low Voltage power cables. Throughout 2025, the company focused heavily on scaling its manufacturing capacity to meet infrastructure-driven demand, including the acquisition of industrial land in Gujarat and Rajasthan. The company also earned recognition for its operational discipline, receiving multiple Safety King Awards in 2025. KEI maintains a strong market presence, serving both domestic and international markets across 60+ countries.

The company’s robust financial health is supported by institutional backing from prominent investors such as Motilal Oswal Asset Management, Kotak Mahindra Asset Management, and ICICI Prudential Asset Management. In terms of recent financial performance, KEI Industries has demonstrated consistent growth, driven by strong demand across its cables and wires portfolio. For the fiscal year 2024-25, the company reported a net profit of Rs. 696.41 Crores, reflecting a growth of approximately 19.85% compared to the previous year.