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Latest filing: 2026-09-18 17:25
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SPCL Completes Acquisition of 51% Stake in Seedlab Ventures for Rs 1.37 Lakh
Shivalic Power Control Limited (SPCL) has completed the acquisition of a 51% controlling stake in Seedlab Ventures Private Limited for a cash consideration of Rs 1.37 lakh, making it a subsidiary. Seedlab Ventures operates in renewable energy services and posted a turnover of Rs 2.49 crore in FY26, up from Rs 0.12 crore in FY25. The transaction qualifies as a related-party transaction at arm's length because the selling shareholder is part of SPCL's promoter group. SPCL intends to leverage this platform to venture into solar park projects.
Confidence: HIGH
What changedSeedlab Ventures has officially become a 51% subsidiary of SPCL following completion of the share purchase.
Why it mattersProvides SPCL an entry point to diversify beyond electrical panels into clean energy and solar park development, though the immediate financial footprint is minimal relative to SPCL's Rs 234 crore TTM revenue.
Cost of acquisition: Rs 1.37 lakhStake acquired: 51%Target FY26 turnover: Rs 2.49 CroreTarget revenue vs SPCL TTM revenue: ~1.06%
📅 Short termNegligible operational or earnings impact over the immediate quarter given the small transaction size of Rs 1.37 lakh.
📈 Long termStrategic vehicle to pursue renewable/solar energy EPC projects, though capital requirements and project execution in the clean energy segment remain to be seen.
⚠ Risk flags
- Related-party transaction involving a promoter group shareholder
- Target company has a short operating history (incorporated in August 2023) with negligible historical base
Key Highlights
Acquired 51% equity stake in Seedlab Ventures Private Limited, turning it into a subsidiary
Cash consideration paid is Rs 1.37 lakh for the 51% controlling stake
Target recorded FY26 turnover of Rs 2.49 crore compared to Rs 0.12 crore in FY25 and Rs 0.02 crore in FY24
Related-party transaction as director/seller is part of SPCL's promoter group
👀 What to Watch
Track subsequent quarterly filings to evaluate the integration of Seedlab and disclosures regarding capital commitment for upcoming solar park projects.
SPCL to Acquire 51% Stake in Seedlab Ventures for Rs 1.43 Lakh in Related-Party Deal
Shivalic Power Control Limited (SPCL) has approved a Share Purchase Agreement to acquire a 51% controlling stake in Seedlab Ventures Private Limited for Rs 1.43 lakh in cash. Seedlab Ventures operates in renewable energy and reported FY26 turnover of Rs 2.49 crore, compared to SPCL's TTM revenue of Rs 234 crore. The transaction qualifies as a related-party transaction, as the director and selling shareholder is part of SPCL's promoter group. Completion of the acquisition is targeted by October 15, 2026, marking SPCL's diversification into solar park projects.
Confidence: HIGH
What changedSPCL executed an agreement to acquire 51% of Seedlab Ventures, making it a majority-owned subsidiary.
Why it mattersProvides SPCL an entry vehicle into the clean energy and solar park domain, though the immediate transaction size is negligible relative to SPCL's Rs 165 Cr market cap.
Acquisition Cost: Rs. 1.43 lakhEquity Stake Acquired: 51%Target FY26 Turnover: Rs. 2.49 CroreTarget Turnover vs SPCL TTM Revenue: ~1.06%Target FY25 Turnover: Rs. 0.12 CroreTarget Completion Date: October 15, 2026
📅 Short termLimited immediate operational or earnings impact given the nominal consideration of Rs 1.43 lakh and target revenue base.
📈 Long termCould serve as an entry point into solar and decentralized energy EPC, but scale and profitability will depend on future project execution and capital deployment.
⚠ Risk flags
- Related-party transaction involving a selling shareholder from the promoter group
- Target company has a short operating history (incorporated August 2023)
Key Highlights
SPCL acquires a 51% controlling stake in Seedlab Ventures Private Limited for Rs 1.43 lakh
Target entity generated FY26 turnover of Rs 2.49 crore, up from Rs 0.12 crore in FY25 and Rs 0.02 crore in FY24
Transaction is a related-party deal involving SPCL promoter group, executed at arm's length
Acquisition completion is expected by October 15, 2026
👀 What to Watch
Track the closing of the transaction by October 15, 2026, and watch for subsequent capital allocation or capex commitments toward solar park projects.
