Surana Telecom and Power Ltd Divests Stake in Sunvibe Energy for ₹4.2 Million

Surana Telecom and Power Limited has announced the divestment of its equity stake in Sunvibe Energy Private Limited, its wholly-owned subsidiary, for ₹4.2 million. This move comes just weeks after the company incorporated Sunvibe Energy as a Special Purpose Vehicle (SPV) for implementing a 54 MW (AC) Solar Power Project. The divestment decision was approved during a board meeting on February 19, 2025. This strategic move is likely part of Surana Telecom's efforts to streamline its operations and focus on core business areas. The company's shares closed at ₹18.97 on the day of the announcement. Investors will be keen to see how this divestment impacts Surana Telecom's financial performance and future growth strategy.

 

Source: BSE Filing, Company Announcement