Mumbai, Oct. 24 -- Premier Energies rose 1.55%, while Syrma SGS Technology added 0.29%. The companies will acquire 100% ownership of KSolare in a 51:49 ratio, for a total consideration of Rs 170 crore. Premier Energies' share amounts to Rs 86.7 crore, and Syrma SGS will invest Rs 83.3 crore.

Founded in 2012, KSolare Energy manufactures on-grid, off-grid, and hybrid solar inverters, primarily for the residential market. It operates a Pune-based facility with a capacity of 500,000 inverters per year and reported FY25 revenue of Rs 342 crore.

The acquisition marks the entry of both companies into the residential solar inverter segment, in line with the government's PM Surya Ghar Muft Bijli Yojana. They plan to set up a new brownfield plant...