Share Holding
Pattern
Transparent equity structure of BARREL (Bharat Atom Renewable Resources Energy Limited) and its Group & Associate Companies — reflecting our commitment to open, accountable, and socially responsible governance.
Manee Foundation
Permanent social equity in every BARREL Group entity — held by Manee Foundation, a Section 8 non-profit organisation.
BARREL — Equity Structure Overview
The equity structure of BARREL reflects the founding Shah family's long-term commitment, the permanent social equity of Manee Foundation, allocated reserves for strategic group partners and joint ventures, and unallocated equity for public markets and institutional investors.
Promoter & Promoter Group — Individual Breakdown
The Promoter and Promoter Group of BARREL comprises the founding Shah family members. Manee Foundation holds a permanent non-dilutable 26% social equity in every group entity. Remaining equity is reserved for group/JV partners and public market participants.
| Sr. | Name of Shareholder | Category | Designation | % Holding | Equity Distribution |
|---|---|---|---|---|---|
| 01 | Stena Shah Founder Promoter CMD |
Promoter — Lead | Founder & Managing Director | 8% | |
| 02 | Yakshni Shah |
Promoter | Co-Promoter | 8% | |
| 03 | Marjaan Shah |
Promoter | Co-Promoter | 8% | |
| 04 | Sanjay Shah |
Promoter | Promoter | 1% | |
| 05 | Manee Foundation Section 8 Non-Profit Company |
Social Equity — Permanent | Non-Profit Beneficiary Entity | 26% | |
| 06 | Other Promoters, Directors & Group / JV Unallocated — Associate & Joint Venture Partners |
Non-Promoter | Group Companies / JV / Strategic Directors | 20% | |
| 07 | Public / IPO / FII / HNI Unallocated — Future Public Offering & Institutional |
Non-Promoter | Future Public Offer, FII & HNI Investors | 29% | |
| Total | 100% | ||||
Shareholding Pattern — Group Companies
Every BARREL Group and Associate Company carries the permanent 26% Manee Foundation equity stake — regardless of the shareholding structure of other promoters and partners. This is the foundational social commitment embedded in the DNA of every BARREL Group entity.
MSP Energy Infra Private Limited
Energy Infrastructure — Group Associate
Partner
Permanent Social Equity
Promoter
Niccau Industries & Group Companies
Energy Infra · Green Hydrogen · Renewable Energy
Promoter
Permanent Social Equity
Strategic Partners
Public Partners
Maha Solar / Wind / Agrovoltaic / Floating Park
Maharashtra Solar & Renewable Portfolio Companies
Promoter
Permanent Social Equity
Jalaram Solar Energy LLP
Solar Energy — Limited Liability Partnership
LLP Partner
Permanent Social Equity
LLP Partner
Bharat Agrovoltaic / Halix Bharat
Agrovoltaic, Technology & Consumer Solar Companies
Promoter
Permanent Social Equity
Strategic Partners
Public Partners
Lithium Valley India Inc.
BESS Manufacturing — Group Company
Promoter
Permanent Social Equity
Strategic Partners
Public Partners
Special Purpose Vehicles — Project Companies
For each power generation project, BARREL incorporates a dedicated Special Purpose Vehicle (SPV). BARREL holds 100% equity in the SPV during the EPC and construction phase, with equity transferred to the final owner upon project completion.
Case
The Manee Foundation — 26% for Society
The most distinctive feature of BARREL's shareholding structure is the permanent, non-dilutable 26% equity stake held by Manee Foundation — a Section 8 (non-profit) company — in every BARREL Group entity. This is not a CSR allocation or a government-mandated reserve. It is a deliberate, irrevocable founding decision by Stena Shah to permanently embed social benefit into the financial DNA of every company the BARREL Group creates.
- Manee Foundation holds 26% equity in every BARREL Group and Associate company
- The 26% stake is written as non-dilutable in the Articles of Association of each company
- The stake is non-transferable — it cannot be sold, pledged, or assigned
- All dividends and proceeds from Manee Foundation's equity are used exclusively for community welfare, rural development, education, and environmental programmes
- Even if BARREL raises new capital and new investors join, Manee Foundation's 26% is preserved through anti-dilution provisions
- Manee Foundation is governed by an independent board — separate from BARREL management
Notes to the Shareholding Statement
📋 Important Notes & Disclosures
- The shareholding percentages disclosed above represent the indicative equity structure of BARREL (Bharat Atom Renewable Resources Energy Limited) and its Group and Associate Companies. Exact registered capital and paid-up share capital details are maintained in the statutory records of each company with the Ministry of Corporate Affairs (MCA).
- Manee Foundation's 26% equity stake in all BARREL Group entities is permanent, non-dilutable, and non-transferable as enshrined in the Articles of Association and Shareholders' Agreement of each entity. This provision survives any change in management, ownership, or capital structure.
- The 20% equity reserved for Other Promoters, Directors, Group Companies, Associates, and Joint Venture Partners is unallocated and will be issued to eligible parties as the Group's governance and partnership structure evolves.
- The 29% equity reserved for Public / IPO / FII / HNI represents unallocated equity intended for future public offering, foreign institutional investment, and high-net-worth individuals. This is subject to applicable SEBI regulations and market conditions at the time of offering.
- Shareholding in SPV (Special Purpose Vehicle) companies is 100% with BARREL during EPC and construction phases. Post-commissioning, equity may be transferred to project owners, developers, or investors as per project agreements. The Manee Foundation 26% commitment applies to BARREL Group holding companies, not to project-specific external SPVs.
- The promoter group includes Stena Shah (Sanjaykumar Shah), Yakshni Shah, Marjaan Shah, and Sanjay Shah. All promoter shareholding is subject to applicable SEBI promoter lock-in requirements for listed entities and Companies Act provisions for private limited companies.
- This page is for information purposes only and does not constitute a prospectus, offer document, or investment advice. For legally binding shareholding disclosures, refer to official statutory filings. For queries: info@barrel.energy