The Competition Commission of India (CCI) has approved a proposed restructuring by Vishakha Renewables Private Limited (VRPL) that will migrate its renewables business and effect a merger into Vishakha Glass Private Limited (VGPL). The decision follows a formal filing and addresses the planned corporate reorganisation across related entities. The proposed combination comprises a sequence of asset transfers and amalgamations intended to consolidate solar and related product manufacturing under the merged entity.

As part of the arrangement VRPL will transfer and vest its pipes division and mouldings division to Progressive Pipes Private Limited (PPPL) as a going concern on a slump sale basis. The plan also envisages the amalgamation of Vishakha Renewables One Private Limited (VR1PL), Vishakha Metals Private Limited (VMPL) and Vishakha Metals One Private Limited (VM1PL) with and into VRPL. Following these steps VRPL will be amalgamated with and into VGPL to create the merged entity.

Vishakha Renewables Private Limited is engaged in manufacturing solar system components including high grade potential induced degradation resistant ethylene vinyl acetate encapsulant and back sheet. It also manufactures micro irrigation systems and polyvinyl chloride and high density polyethylene pipes and produces plastic products such as pallets crates and large bins. Vishakha Renewables One Private Limited was established to produce a range of solar panel components while Vishakha Metals Private Limited and Vishakha Metals One Private Limited were formed to manufacture aluminium frames and other metal components respectively.

Vishakha Glass Private Limited was incorporated to manufacture solar glass for solar systems. Progressive Pipes Private Limited was incorporated to manufacture micro irrigation and drip irrigation systems and pipes including polyvinyl chloride high density polyethylene and medium density polyethylene and to trade granules and related items. The Competition Commission of India will issue a detailed order on the proposed combination in due course.