Mumbai, April 28, 2026: Enviro Infra Engineers Limited has announced that its wholly owned subsidiary, EIE Renewables Private Limited, has entered into a Share Purchase Agreement to acquire 100% stake in Suyog Urja Limited in a phased transaction valued at approximately ₹311 crore.
Under the agreement, EIE Renewables will immediately acquire a 51% equity stake in Suyog Urja, while the remaining 49% stake will be acquired progressively over a period of 27 months. The overall acquisition is expected to be completed on or before July 31, 2028. The company said the acquisition marks its strategic entry into the wind energy segment and is aimed at strengthening and diversifying its renewable energy portfolio.
Suyog Urja Limited is engaged in renewable energy infrastructure development with a focus on wind and solar projects across India. The company is registered with the Maharashtra Energy Development Agency (MEDA) and operates across states including Maharashtra, Karnataka and Madhya Pradesh.
For FY2024-25, Suyog Urja reported an audited turnover of ₹171.99 crore and a net worth of ₹30.34 crore. The company’s revenue has grown significantly over the last three years, from ₹53.34 crore in FY2022-23 to ₹86.71 crore in FY2023-24 and ₹171.99 crore in FY2024-25.
According to the disclosure, Suyog Urja has completed over 500 MW of renewable energy projects and currently has an outstanding order book of around ₹645 crore.
The company has executed several large-scale wind energy projects, including a 104 MW project for Tata Power Saurya Limited, 125 MW and 100 MW projects for Vibrant Energy, and a 50 MW project for Suzlon Energy Limited.
Enviro Infra stated that the acquisition is not a related-party transaction and that none of its promoters or group entities have any interest in the target company.
The filing also noted that Suyog Urja founder Chetraj Narbahadur Khadka will continue to remain associated with the company for at least three years to provide strategic oversight and ensure operational continuity. Following the acquisition of the initial 51% stake, Suyog Urja has become a subsidiary of EIE Renewables and a step-down subsidiary of Enviro Infra Engineers Limited with effect from April 28, 2026.