Jhaveri Credits acquires 51% U R Energy Solar for ₹51,000

What the board approved on September 19, 2026

Jhaveri Credits & Capital Limited said its board approved the acquisition of a 51% equity stake in U R Energy (Solar) Private Limited at a meeting held on September 19, 2026. The company disclosed that the transaction values the controlling interest at ₹51,000, which is ₹0.00051 crore. The move marks the company’s entry into solar energy manufacturing, signalling a shift from its earlier positioning as a commodity broking business.

Alongside the acquisition, the board also approved a proposal to change the company’s name from Jhaveri Credits and Capital Limited to U R Energy (India) Limited. The name change is subject to shareholder approval and regulatory clearances. The approvals follow a broader restructuring that the company has been executing over the past year.

Acquisition details: stake size and valuation

The company’s disclosure states the acquisition is for a 51% equity stake in U R Energy (Solar) Private Limited. It values the controlling interest at ₹0.00051 crore. While the disclosed amount is small in absolute terms, the strategic implication highlighted by the company is the entry into solar energy manufacturing.

The announcement ties into a sequence of corporate steps that have connected Jhaveri Credits & Capital with the “U R Energy” identity. These include an amalgamation scheme and subsequent changes to shareholding and corporate structure that were disclosed earlier in 2026.

Proposed name change to U R Energy (India) Limited

The board approved changing the company’s name from Jhaveri Credits and Capital Limited to U R Energy (India) Limited. The company clarified that the name change will require member approval and regulatory clearances before it can take effect.

This renaming proposal is positioned as part of the company’s transition, aligning its listed identity with the U R Energy brand. The decision also follows the sanctioning of an amalgamation scheme involving U R Energy Private Limited and Jhaveri Credits and Capital Limited.

Amalgamation scheme: what the company has disclosed

Jhaveri Credits & Capital previously disclosed that the National Company Law Tribunal (NCLT), Ahmedabad Bench, sanctioned a scheme of amalgamation between U R Energy Private Limited (transferor) and Jhaveri Credits and Capital Limited (transferee). The order was dated March 16, 2026.

The company stated that the scheme became effective on April 1, 2026, with an appointed date of April 1, 2024. After the amalgamation became effective, the company described its transformation path from a financial services entity to an energy sector company. In the same context, it also disclosed an authorised capital increase to ₹18.5 crore.

AGM scheduled for September 25, 2026

Jhaveri Credits & Capital has scheduled its 32nd Annual General Meeting (AGM) for September 25, 2026. The company also disclosed that the AGM will be held via video conferencing.

In its corporate updates, the company indicated that the notice of the AGM and other related information was published. The AGM is relevant for investors because key corporate proposals, including items requiring shareholder approval, may be placed before members.

Borrowing limits and charges: August 29 board outcome

In a separate disclosure, the company said its board approved an increase in borrowing limits and approved the creation of charges or mortgages on company property at a meeting held on August 29, 2026. The company noted these measures were considered in compliance with Section 180(1)(c) and Section 180(1)(a) of the Companies Act, 2013.

It said the borrowing limit increase exceeds the sum of paid-up share capital, free reserves, and securities premium account, which triggers a shareholder approval requirement. The company also stated that both resolutions require shareholder ratification. The board meeting on August 29, 2026 commenced at 2:00 pm and concluded at 2:30 pm, and the outcome was disclosed under SEBI Regulation 30.

Financial snapshot: Q1FY26 loss compared with Q1FY25 profit

Jhaveri Credits & Capital reported a consolidated net loss of ₹1.4791 crore for the quarter ended June 30, 2026 (Q1FY26). This compares with a net profit of ₹6.8663 crore recorded in the same quarter of the previous financial year (Q1FY25).

The company said the board approved the unaudited standalone and consolidated financial results on August 12, 2026, after review by the Audit Committee. The same update also referenced the AGM being convened for September 25, 2026.

Order book and ownership changes disclosed in 2026

The company disclosed it had won a confirmed work order worth ₹10.65 crore from the Gujarat Energy Development Agency (GEDA). Separately, it also disclosed that its promoter and promoter group increased their shareholding to 63.24% through the acquisition of 1,178,605 equity shares via a scheme of amalgamation with U R Energy (India) Private Limited.

These disclosures add context to the company’s restructuring, showing both a business pipeline item linked to energy and a change in ownership structure connected to the amalgamation process.

Key facts table

Why the developments matter for investors

The acquisition approval and proposed name change are part of a clear corporate repositioning that the company has been reporting through 2026. On one side are structural steps such as amalgamation, board and governance changes, and proposals requiring shareholder approval under the Companies Act. On the other are operating and sector-linked disclosures, including a solar-related acquisition and an energy-linked work order.

At the same time, the financial comparison between Q1FY26 and Q1FY25 highlights that the company has reported a sharp swing from profit to loss in its consolidated numbers. For shareholders, the upcoming AGM on September 25, 2026 is a focal point, since approvals for various corporate actions are explicitly stated as being subject to member consent and regulatory clearances.

Conclusion

Jhaveri Credits & Capital’s September 19, 2026 board meeting approved a 51% acquisition in U R Energy (Solar) Private Limited for ₹0.00051 crore and a proposed renaming to U R Energy (India) Limited. The company has also scheduled its 32nd AGM for September 25, 2026, where shareholder approvals relevant to earlier board decisions may be pursued, alongside pending regulatory clearances for the name change.