Acquisition

KPI/MAT/AUG/2026/811 Date: August 21, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400051 Scrip Code: 542323 Symbol: KPIGREEN Sub.: Intimation regarding Proposed Acquisition by Subsidiary Company viz. Sun Drops Energia Limited Ref.: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) Dear Sir/Madam, Pursuant to Regulation 30 of SEBI Listing Regulations, this is to inform you that the Board of Directors of the Subsidiary of the Company, viz. Sun Drops Energia Limited (“Sun Drops”), at its meeting held on today, inter alia, approved the following: ➢ Acquisition up to 100% equity shares of DEK and Mavericks Green Energy Limited (“DMGEL”) at a valuation of Rs. 55.80 Crores. In consideration thereof, Sun Drops shall issue up to 15,89,781 Compulsorily Convertible Preference Shares (CCPS) of an equivalent value to the shareholders of DMGEL, subject to the approval of the shareholders of Sun Drops in compliance with the applicable provisions of the Companies Act, 2013 and the rules made thereunder. ➢ Further, upon acquisition of 50% or more of the equity shares of DMGEL, DMGEL shall become a step-down Subsidiary Company of KPI Green Energy Limited in accordance with the applicable provisions of the Companies Act, 2013. The requisite disclosure in respect of the aforesaid acquisition shall be made in due course in compliance with SEBI Listing Regulations. The aforesaid information was received from the Subsidiary Company today at 04:00 p.m. The information pursuant to Regulation 30 of SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is enclosed herewith as Annexure A. This is for your information and records. Thanking you, Yours faithfully, For KPI Green Energy Limited Krunal Bhatt Company Secretary & Compliance Officer Annexure A The details as required under Regulation 30 of Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 are given as under: Sr. No. Particulars Details a) Name of the target entity, details in DEK and Mavericks Green Energy Limited brief such as size, turnover etc. (DMGEL) b) Whether the acquisition would fall Dr. Faruk G. Patel, Promoter & Director of Sun Drops within related party transaction(s) holds 8.95% equity share capital of DMGEL. and whether the promoter/ Accordingly, the proposed transaction constitutes a promoter group/ group companies Related Party Transaction to the extent of have any interest in the entity being acquisition by Sun Drops of the aforesaid equity acquired? If yes, nature of interest shares of DMGEL held by Dr. Faruk G. Patel and and details thereof and whether the issuance of CCPS of Sun Drops to Dr. Faruk G. Patel same is done at “arm’s length”. against such acquisition. Further, the proposed transaction is being done at arm’s length, taking into account the valuation report issued by Mr. Abhishek Chhajed, Registered Valuer having registration no. IBBI/RV/03/2020/13674 dated August 20, 2026, in accordance with the applicable laws. c) Industry to which the entity being Renewable Energy acquired belongs. d) Objects and impact of acquisition The acquisition is proposed to expand the renewable (including but not limited to, energy business of Sun Drops by leveraging the disclosure of reasons for technical expertise and project execution acquisition of target entity, if its capabilities of DMGEL. business is outside the main line of business of the listed entity). e) Brief details of any governmental or Not Applicable regulatory approvals required for the acquisition. f) Indicative time period for The acquisition is expected to be completed by completion of the acquisition September 30, 2026, subject to approval of the shareholders and applicable compliances. g) Consideration - whether cash The consideration for the acquisition shall be consideration or share swap and discharged by issuance of up to 15,89,781 details of the same; Compulsorily Convertible Preference Shares (CCPS) of Sun Drops to the shareholders of DMGEL. h) Cost of acquisition or the price at Up to 100% equity shares of DMGEL will be acquired which the shares are acquired; by Subsidiary Company, Sun Drops by way of purchase of up to 1,70,84,853 equity shares of DMGEL at Rs. 32.66/- per share, aggregating to Rs. 55.80 Crores. i) Percentage of shareholding / control Up to 100% equity shares of DMGEL will be acquired acquired and / or number of shares by Subsidiary Company, Sun Drops by way of acquired; purchase of up to 1,70,84,853 equity shares of Rs. 32.66/- each. j) Brief background about the entity DMGEL is a Public Limited Company incorporated acquired in terms of products/line of on November 16, 2021, and registered with Registrar business acquired, date of of Companies, Ahmedabad. incorporation, history of last 3 years turnover, country in which the The Company is engaged in providing EPC and acquired entity has presence and project development solutions in the renewable any other significant information (in energy sector, primarily in solar power, including brief); utility-scale ground-mounted solar, commercial and industrial rooftop solar, hybrid power solutions, battery energy storage systems, transmission infrastructure and operation & maintenance services. Existing Capital: (Rs. In Lakhs) Authorised Share Capital 2500.00 Paid-up Equity Share 1708.48 Capital Turnover: Financial Year Amount (Rs. In Lakhs) 2025-26 21398 2024-25 15004 2023-24 3062 Country in which the acquired entity has presence: India