Scheme of Amalgamation of RPSG Energy Services Limited with Purvah Green Power Private Limited
M&A
● No Immediate Change
LOW RISK
📅 Filed on BSE: 31 Jul 2026, 07:23 PM IST · BSE ID: 99d84c43-6f02-4acc-aaae-f189070f12cc
View Original BSE Filing (PDF)
💡
In Simple Terms
CESC's renewable energy subsidiary is merging with another related company that makes solar modules.
🤖 AI Summary
- CESC subsidiary Purvah Green Power Private Limited will amalgamate RPSG Energy Services Limited.
- Purvah Green Power reported total assets of INR 2,926.37 Crore and FY26 revenue of INR 1,097.61 Crore.
- RPSG Energy Services, via RPSG Solvanta, manufactures modules for non-conventional and renewable energy.
- Consideration involves Purvah issuing 491 equity shares for every 100 RPSG Energy shares, based on KPMG valuation.
- The scheme is contingent on approvals from NCLT, and shareholders of Purvah and RPSG Energy.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Purvah Green Power Total assets (as on July 29, 2026)
INR 2,926.37 Crore
Purvah Green Power Net worth (as on July 29, 2026)
INR 945.29 Crore
Purvah Green Power Revenue from operations (FY26)
INR 1,097.61 Crore
RPSG Energy Services Total assets (as on July 29, 2026)
INR 271.24 Crore
RPSG Energy Services Net worth (as on July 29, 2026)
INR 271.24 Crore
RPSG Solvanta Revenue from operations (FY26)
INR 275.76 Crore
RPSG Solvanta Revenue from operations (Current FY till July 29, 2026)
INR 286.15 Crore
🏢 How This Affects the Company
The amalgamation is anticipated to consolidate renewable energy portfolios under one entity, potentially generating operational and commercial synergies. This includes captive supply of module components, enabling enhanced cost and quality control.
The combined entity will have total assets exceeding INR 3,197.61 Crore based on reported figures for Purvah and RPSG Energy Services as of July 29, 2026. This consolidation aims to mitigate supply chain risks within the renewable energy segment.
Consolidation of renewable energy assets is expected to streamline operations by integrating module manufacturing with power generation and EPC services. This creates a more vertically integrated structure for renewable energy projects.
The amalgamation is designed to mitigate supply chain risks for module components by bringing manufacturing in-house. The transaction involves related parties but is assessed on an "arm's length" basis by independent valuers.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders of CESC Limited.
👤
Who Is Affected
The shareholding pattern of CESC Limited will not change upon the Scheme becoming effective. Shareholders of Purvah Green Power and RPSG Energy Services will see changes in their equity holdings.
🔍
Management Signal
The decision indicates management's intent to consolidate and optimize its renewable energy businesses for enhanced operational efficiency and risk mitigation.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
NCLT approval for the Scheme of Amalgamation of Purvah Green Power and RPSG Energy.
Shareholder approval outcomes from Purvah Green Power and RPSG Energy.
CESC's future disclosures on the effective date and completion of the amalgamation.
LOW RISK
The filing reports a scheme of amalgamation for subsidiaries, which is a structural change with minimal direct risk to CESC shareholders.
💡 Investor Takeaway
CESC's subsidiary Purvah Green Power (Total assets: INR 2,926.37 Crore) will amalgamate RPSG Energy Services (Total assets: INR 271.24 Crore), consolidating renewable energy operations. The merger awaits NCLT and shareholder approvals, with a determined share exchange ratio.
⚖️ Strengths & Concerns
✅ Positives
- Consolidation of renewable energy portfolios under one entity is expected to generate operational and commercial synergies for CESC's subsidiary.
- Captive supply of module components within the combined entity aims to enhance cost and quality control while mitigating supply chain risks.
❓ Frequently Asked Questions
What is the primary purpose of the amalgamation announced by CESC Ltd?
The amalgamation aims to consolidate the renewable energy portfolios of Purvah Green Power Private Limited and RPSG Energy Services Limited under a single entity, creating operational and commercial synergies.
What are the total assets of Purvah Green Power Private Limited?
As of July 29, 2026, Purvah Green Power Private Limited reported total assets of INR 2,926.37 Crore and a net worth of INR 945.29 Crore.
What is the business area of RPSG Energy Services Limited?
RPSG Energy Services Limited, through its subsidiary RPSG Solvanta Private Limited, operates in the renewable energy sector, primarily manufacturing modules for non-conventional and renewable energy sources.
What is the share exchange ratio for the amalgamation?
In consideration for the amalgamation, Purvah Green Power will issue 491 fully paid-up equity shares of INR 10 each for every 100 equity shares of INR 10 each of RPSG Energy Services Limited.
Will the amalgamation impact the shareholding pattern of CESC Limited?
No, upon the Scheme becoming effective, there will be no change in the shareholding pattern of CESC Limited.
Questions based on this BSE filing only. For information purposes.