| Prabha Energy Limited was incorporated on 5 August, 2009 as a private limited Company as 'Prabha Energy Private Limited' to generate electrical power by conventional and non-conventional methods including biomass, natural gas, nuclear, waste, thermal, solar, ideal, geo therma, wind and tidal waves or any of the activities of prospecting, exploring, developing conventional and non conventional business in India. In addition, it also carry on all or any of the activities of oil & gas CBM, shale, hydrocarbon onshore and offshore business services.
In FY 2024-25, pursuant to the Composite Scheme of Arrangement, approved by Hon'ble NCLT Ahmedabad Bench, vide an order dated August 30, 2024, Deep Energy Resources Limited/ DERL), and Savla Oil and Gas Private Limited /SOGPL, got merged with and into the Company, making the Scheme effective from 1st April, 2022.
In terms of the said Scheme of Amalgamation, the Company allotted 136905531 Equity Shares of Re 1/- each on November 23, 2024 to the shareholders of Deep Energy Resources Limited and Savla Oil and Gas Private Limited on September 25, 2024. |