Sarda Energy & Minerals Ltd. has announced the proposed merger of its two wholly-owned subsidiaries—Sarda Energy Ltd. and Kalyani Coal Mining Pvt. Ltd.—as part of a strategic move aimed at administrative convenience, cost optimization, and reduced compliance requirements. The development was disclosed on March 7, 2026, under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Regulations.
According to the company’s regulatory filing, the merger will see Sarda Energy Ltd. act as the transferee company, while Kalyani Coal Mining Pvt. Ltd. will be the transferor company. Both entities are wholly-owned subsidiaries of Sarda Energy & Minerals Ltd., and the transaction remains subject to necessary regulatory approvals.
Sarda Energy Ltd., incorporated in 2008, primarily invests in the group’s renewable energy business and reported revenue of ₹18.49 crore for FY 2024–25. Meanwhile, Kalyani Coal Mining Pvt. Ltd., established in 2023 as a special purpose vehicle (SPV), was initially created to undertake the re-opening, rehabilitation, and operation of the Kalyani Underground Mines in Chhattisgarh.
The company stated that the merger is intended to simplify administrative structures, optimize operational costs, and reduce regulatory and compliance requirements within the group structure. As both companies are wholly-owned subsidiaries, the transaction qualifies as a related-party transaction but is exempt under Regulation 23(5)(c) of SEBI’s Listing Obligations and Disclosure Requirements Regulations.
The filing further clarified that no cash consideration will be involved in the merger. Instead, the consideration will be issued in the form of shares based on a valuation report to be obtained. Importantly, the company confirmed that the merger will not result in any change in the shareholding pattern of Sarda Energy & Minerals Ltd.
