The Board of Directors of Sun Drops Energia, a wholly-owned subsidiary of Sun Drops at their meeting held on 07 June 2024, approved the issue of 10,66,098 equity shares of Sun Drops to Dr. Faruk G. Patel (Proposed Allottee) on a private placement basis.

The Proposed issue is representing 16.62% of the expanded paid-up share capital of Sun Drops. Further, post completion of the abovementioned private placement, Sun Drops will be ceases to be a wholly-owned subsidiary and continue as a subsidiary representing 83.38% of the expanded paid-up share capital of Sun Drops.

Dr. Faruk G. Patel, aged 52, is designated as Chairman & Managing Director of KPI Green Energy. He is the founding promoter of KPI Green Energy.