KPI Green's subsidiary takes 88.37% of Mavericks Green Energy
What's the deal? KPI Green EnergyDealroom has a profile for this one. Try Dealroom → said its subsidiary, Sun Drops Energia (SDEL), has completed the acquisition of a majority stake in Mavericks Green Energy (DMGEL)Dealroom has a profile for this one. Try Dealroom →, lifting its holding to 88.37% of the paid-up equity capital as of October 17, 2026.
The numbers. SDEL bought an additional 4,349,560 equity shares, bringing its total to 15,097,320 shares. The deal value was not disclosed.
Why now? KPI Green described the move as a continuation of previously disclosed plans to acquire DMGEL, part of its broader growth strategy. The latest tranche converts an earlier stake into clear majority ownership and control.
What changes? With 88.37%, SDEL gains decisive control over DMGEL's operations and board decisions. KPI Green received confirmation of the transaction from SDEL on the morning of October 17.
The signal: The step-up fits a wider pattern of consolidation in India's renewable energy sector, as larger players absorb smaller developers to expand capacity and tighten control of their pipelines.
Read more: investywise.com
Image credit: 1010 Climate Action
