Sun Drops Energia Raising Rs 50 Crore Funding From SKA Diary Foods

TL;DR

Sun Drops Energia wants to raise Rs 50 crore from SKA Diary Foods. The company is looking for approval from its shareholders at an EGM dated 26th November, 2026. After a successful 90% EBITDA and PAT growth, the company wants to invest more in capital expenditure and repay its debt.

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Renewable Energy company Sun Drop Energia is planning to raise Rs 50 crore by issuing preferential equity shares to SKA Diary Foods. The company communicated the same through its notice of the Extraordinary General Meeting (EGM) to be held on 26th November, 2026. Let’s understand more details about this proposed fundraising.

Main highlights of the proposed funding

• Issuer company: Sun Drop Energia Limited

• Fund Raise Amount: Up to Rs 49.99 crore

• Type of issue: Preferential allotment of equity shares for cash.

• Number of shares: 12,28,500 shares.

• Face value per equity share: Rs 5 per share.

• Issue price: Rs 407 per share

• Proposed Issue to: SKA Diary Foods

How Was Rs 407 per share price fixed?

As mentioned in the notice to EGM, the Rs 407 per share issue price was fixed as per the valuation report given on October 23, 2026.

About the Investor SKA Diary Foods

SKA Dairy Foods India Private Limited is India’s well-known dairy processing company in Salem, Tamil Nadu. They operate in South India under the dairy brand name ARJUNA and process around 8 Lakh liters of milk per day. 

About Sun Drops Energia

Sun Drops Energia is a Gujarat-based renewable energy company and a subsidiary of KPI Green Energy Limited. Its core business development, running, and maintaining:

• Solar projects 

• Hybrid projects (solar and wind) and   

• Battery Energy Storage Systems (BESS)

Why is Sun Drops Energy Raising Rs 50 Crores?

Sun Drop Energia is raising funds to use them for the following purposes:

• Capital Spending

• Working Capital Finance

• Repayment of Debt

• General Corporate purposes

What will change in Sun Drops Energia's shareholding?

Promoter shareholding will reduce from 77.89% to 76.82%, but will not change the controlling stake.

Sun Drop Energia Previous Fundraise

Sun Drops previously issued 14,04,835 Compulsorily Convertible Preference Shares (CCPS) at an issue price of Rs 351.02 per share. This means the company raised around Rs 49 crore in the previous funding round. 

Business Model Sun Drops Energia

Sun Drop Energia operates under two business models:

A) Independent Power Producer (IPP) Model

They own and operate large-scale solar plants and supply the power generated to businesses through Purchase Power Agreements (PPAs).

B)Captive Power Producer (CPP) Model

These are privately owned power plans where Sun Drop Energia comes in and helps other businesses develop a complete power solution from site selection to commissioning. This helps their clients save electricity by creating their own electricity and avoid dependence on traditional power providers.

Portfolios of Sun Drop Energia In FY 26-27

• 574+MWp of Independent Power Producer (IPP) Portfolio.

• 392+MWp of Total Captive Power Producer CPP Portfolio (Include Hybrid).

• 16.7+MWp of Hybrid Portfolio (IPP + CPP).

• 982.8+MWp Total (IPP + CPP) Portfolio.

Financial Growth Analysis of Sun Drops Energia

Sun Drop Energia has seen massive financial growth in the last 2 years.

• Revenue has grown from 59% of Rs 369 crores in FY24-25 to Rs 586.8 crores in FY25-26

• EBITDA saw a 93% jump from 77.7 crores to 150 crores in just 1 year. Parallelly, EBITDA margin grew from 21.1% to 25.6%, indicating healthier business operations.

• PAT saw a similar 90% jump in 1 year from Rs 51.2 crore in FY 24-25 to Rs 97.1 crore in FY 25-26.

• Earnings per share (EPS) went up from Rs 7.4 per share in FY 24-25 to Rs 11.19 per share in FY 25-26.

All these signals indicate greater shareholder wealth for investors in Sun Drops Energia Unlisted Shares.