Agastya Energy Approves INR 566 Crore Preferential Issue to Support RE Growth

Agastya Energy and Infrastructure Ltd., formerly known as Sanginita Chemicals Ltd.and part of the Anubhav Agarwal Group, has announced that its Board of Directors has approved a preferential issue of equity shares and convertible warrants aggregating approximately INR 566 crore.

The proposed capital raise is aimed at strengthening the company’s financial position and supporting its long-term growth plans across the energy and infrastructure sectors.

The company said that the preferential issue also reflects the confidence of the promoter group and participating investors in its strategic direction and future growth potential.

Commenting on the announcement, Anubhav Agarwal, Chairman of AAG (Anubhav Agarwal Group), said  that the investment marks an important milestone in Agastya’s growth journey and reinforces the group’s confidence in the company’s long-term vision.

“With a stronger financial foundation, Agastya will be well positioned to pursue emerging opportunities across India’s rapidly evolving energy and infrastructure landscape, while maintaining a disciplined approach to growth, execution and sustainable value creation,” Agarwal said.

The preferential issue will be undertaken in accordance with the applicable provisions of the SEBI Issue of Capital and Disclosure Requirements Regulations and other applicable laws. The transaction remains subject to shareholders’ approval as well as other regulatory and statutory approvals, as applicable.

Agastya Energy Group is focused on building integrated capabilities across the solar photovoltaic value chain. The company operates across solar module and cell manufacturing, independent power production, engineering, procurement and construction, and operations and maintenance.

According to the company, it is expanding its manufacturing capabilities across ingots, wafers, solar cells and modules, with plans to develop an integrated solar manufacturing platform. It aims to increase domestic value addition, strengthen supply-chain resilience and support India’s renewable energy ecosystem through greater vertical integration.