ACME Solar Holdings Ltd

Formation of UAE subsidiary

• Target: ACME Renewables FZCO, UAE-based renewable energy supply chain subsidiary.
• Industry: Renewable energy systems, components and storage supply chain management.
• Incorporation: Certificate of Formation dated Oct 14, 2026, in United Arab Emirates.
• Holding: 100% owned by ACME Solar; related party.
• Purpose: Platform to support ACME Solar's renewables business via procurement and project support.
• Strategic rationale: hedging of raw materials like lithium carbonate and polysilicon.
• Regulatory approvals: Not applicable.
• Consideration: Cash.
• Capital: AED 10,000 issued capital across 10,000 shares of AED 1.
• Shareholding: 100% held by ACME Solar.
• Timeline: Formation completed Oct 14, 2026.
• Background: Renewable energy procurement and supply chain services; incorporated Oct 14, 2026; turnover not disclosed.

New WoS subsidiaries

• Entities: Amshuman Renewables Pvt Ltd and Urjita Powertech Pvt Ltd formed as WoS of ACME Solar.
• Incorporation date: October 13, 2026; registered in Gurugram, Haryana, India.
• Industry: Power Generation (Renewable Energy).
• Business objective: develop, establish and operate renewable energy projects.
• Capital: 100% cash subscription; Rs 100,000 for 10,000 shares.
• Shareholding: ACME Solar holds 100% of initial paid-up capital.
• Size: turnover not disclosed.
• Regulatory approvals: not applicable.
• Rationale: to develop and operate renewable energy projects under ACME's portfolio.
• Nature of consideration: cash subscription to initial paid-up share capital.
• Timeline: incorporation date provided; no further completion timeline.
• Target background: two private limited entities focused on power generation and renewables.
• Geographic presence: registered office in Gurugram, Haryana.

AGM details

• Date/time: 29 Sep 2026, 3:00 PM IST, via VC/OAVM.
• AGM concluded at 3:53 PM IST.
• Remote e-voting: 26 Sep 2026, 9:00 AM to 28 Sep 2026, 5:00 PM IST.
• Mode: VC/OAVM; proxy facility not provided.
• Quorum: 76 members attended via VC.

Key resolutions

• Standalone financial statements adoption — Ordinary.
• Consolidated financial statements adoption — Ordinary.
• Re-appointment of retiring director — Ordinary.
• Appointment of statutory auditor and remuneration — Ordinary.
• Alteration of MOA objects clause — Special.

Voting results

• Results to be submitted; deemed passed on AGM date subject to requisite votes.
• Status: results will be informed to exchanges and posted online.

Directors / Auditors

• Director changes: Re-appointment of retiring director.
• Auditors: Appointment of statutory auditor; remuneration to be fixed.

Other material approvals

• Special resolution: alteration of MOA objects clause.

ACME Solar Holdings Limited — Trading window closed for Designated Persons and their Immediate Relatives from Thursday, October 01, 2026 until completion of 48 (forty-eight) hours after the declaration of the Un-audited financial results (Standalone and Consolidated) for the quarter and half year ending September 30, 2026.

Subsidiary details

• ACME Greentech Twenty Nine Private Limited is a wholly owned subsidiary of ACME Solar Holdings Limited.
• Business scope includes development, establishment and operation of renewable energy power projects in India.

Financial and incorporation

• 100% cash subscription of Rs 1,00,000 for 10,000 equity shares of Rs 10 each.
• Date of incorporation: September 18, 2026; registered office in Gurugram, Haryana, India.
• Ownership: ACME Solar Holdings Limited holds 100% shareholding.
• Regulatory approvals: Not applicable for incorporation.

Amalgamation details

• Board approved the Scheme on 18 Sep 2026 for amalgamation into the Transferee.
• Transferor Pokhran, Sikar, Eco Clean Energy amalgamate into ACME Solar Holdings.
• Board meeting held 18 Sep 2026, 6:52–7:09 PM IST.
• No cash or share consideration; equity in transferors cancelled on effectiveness.
• Investments in transferors in Transferee's books will be cancelled.
• Transferor Companies are wholly-owned subsidiaries of the Transferee.

Related party and exemptions

• Transferor Companies are wholly owned subsidiaries, making them related parties.
• Scheme exempt from Section 188 requirements per MCA Circular 30/2014.
• Exemptions from SEBI Regs 23(2)-(4) apply; Reg 23(5)(b) noted.
• Master Circular SEBI CFD/POD-2/2023/93 exemption applies.
• No change in Transferee's shareholding post-scheme.

Business areas

• ACME Solar Holdings and subsidiaries form an integrated renewables company.
• Pokhran wind project: 50 MW.
• Sikar solar project: 300 MW.
• Eco Clean Energy wind project: 100 MW.

Rationale and benefits

• Consolidates assets under Transferee for simplified structure.
• Aims to improve operations, finance, and admin costs.
• Strengthens financing via unified balance sheet and cash flows.
• Eliminates inter-company arrangements and related-party reporting.
• Provides direct asset exposure to shareholders.
• Expected to improve debt access on favorable terms.

Financials (as of 31 March 2026)

• Transferor-1 turnover ₹294.86m; net worth ₹463.59m; net profit ₹(53.11)m.
• Transferor-2 turnover ₹1,204.22m; net worth ₹1,169.56m; net profit ₹185.95m.
• Transferor-3 turnover ₹135.15m; net worth ₹419.47m; net profit ₹(94.09)m.
• Transferee turnover ₹39,109.50m; net worth ₹49,515.93m; net profit ₹3,401.58m.

Timeline and approvals

• Date of board approval: 18 Sep 2026.

BESS commissioning update

• Phase-II BESS commissioned: 52.32 MW / 209.28 MWh on Sep 17, 2026.
• Commercial operation date for Phase-II is Sep 19, 2026.
• Cumulative Phase-I and Phase-II commissioned: 105.95 MW / 423.80 MWh.
• PPA signed with SJVN Limited; financing from REC.
• FDRE BESS Project located at Kelan, Tehsil Chhatargarh, District Bikaner, Rajasthan.
• Entire BESS capacity expected to be commissioned by Q3 of the current fiscal.

Milestones and capacity update

• 68 MW solar and 300 MWh BESS commissioned at Kelan Village, Bikaner.
• Phase-I solar part of 300 MW solar + 100 MW wind hybrid project.
• PPA signed with NTPC; long-term project finance with PFC.
• Entire 300 MW solar capacity expected by end of Q3 FY27.
• Phase-I BESS: 53.63 MW / 300 MWh commissioned.
• PPA for BESS with SJVN; project finance with REC.
• Total renewable energy operational capacity now ~3,057 MW.
• Total BESS capacity now 4.16 GWh.
• Contracted portfolio across solar, wind, storage, FDRE and hybrids: 8,370 MW.

New WoS subsidiaries

• ACME Greentech Twenty Five Private Limited — incorporated Sept 15, 2026, Gurugram, India; 100% WoS; cash Rs 1,00,000.
• ACME Greentech Twenty Six Private Limited — incorporated Sept 15, 2026, Gurugram, India; 100% WoS; cash Rs 1,00,000.
• ACME Greentech Twenty Seven Private Limited — incorporated Sept 15, 2026, Gurugram, India; 100% WoS; cash Rs 1,00,000.
• ACME Greentech Twenty Eight Private Limited — incorporated Sept 15, 2026, Gurugram, India; 100% WoS; cash Rs 1,00,000.
• Industry: Power Generation (Renewable Energy); objective: develop, establish and operate renewable energy projects.
• Regulatory approvals: Not applicable.

Meeting Details

• Date: 21 September 2026; Group (Physical) meetings; Venue: MS Energy Security & Powering AI Field Trip, Delhi.
• Purpose: investor/analyst interactions.
• Investor presentation available on the company's website.