Grauer & Weil (India) signed an MoU with RENA Technologies on 20 October to form a JV in the solar manufacturing value chain.

The company disclosed the agreement in a regulatory filing on Tuesday. Under it, the two firms will set up a new company together.

A joint venture is a separate company that two partners own and run together. This one will focus on the solar manufacturing chain.

Nothing is final yet. An MoU is a first step, not a full contract. The detailed terms will come in later agreements, and the company will disclose them once those are signed.

The partners plan to share control equally. Grauer & Weil and RENA will have equal rights in managing and governing the new venture.

RENA, a German technology firm, will license its proprietary technology to the venture. In return, it will receive a royalty, but the amount has not been agreed.

No shares have been issued under the MoU, and no loans are involved. The filing lists the deal size as not applicable at this preliminary stage.

Grauer & Weil said RENA has no link to its promoters, promoter group or group companies.

So the deal is not a related-party transaction. The two firms have no shareholding ties today.

Grauer & Weil works across chemicals, engineering, paints, lubricants and real estate.

Shareholders met for the company’s 68th annual general meeting on 17 September, held by video conferencing with Chairman Umeshkumar More presiding.

They approved a final dividend of Re 0.50 per share for the year ended 31 March 2026.

All eight resolutions passed with the required majority. The auditors gave clean opinions on the FY26 accounts.

Public institutions voted against the pay revisions for Aman More and Yash More, but both revisions still passed.

Rohitkumar More was reappointed as Whole-time Director for five years from 1 April 2027.

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