The National Company Law Tribunal (NCLT) has approved Sangamam Power Projects’ resolution plan to acquire Karvy Data Management Services (KDMSL) and its subsidiaries. A key aspect of the acquisition is the retention of KDMSL’s 1,200 employees, signalling a strong commitment to workforce stability and talent preservation.
The decision underscores Sangamam Power Projects’ focus on safeguarding jobs while revitalising KDMSL’s operations. Retaining the existing workforce highlights the company’s strategy to leverage their expertise and institutional knowledge as it integrates KDMSL into its portfolio.
This move is expected to ensure continuity, foster employee confidence, and create a solid foundation for the revived business.
Sangamam Power Projects plans to unlock synergies by combining KDMSL’s capabilities in data management and e-governance with its own expertise in renewable energy. The retention of employees reflects a broader vision of nurturing talent to drive innovation and long-term growth.
The acquisition comes as part of KDMSL’s Corporate Insolvency Resolution Process, initiated in September 2023, and includes its subsidiaries, Karvy Innotech (KITL) and Karvy Renewable Energy Projects (KREPL). Beyond job preservation, the resolution plan aims to revive KDMSL’s legacy businesses and expand its footprint across technology-driven services.
Founded in 2008, Sangamam Power Projects is a leader in solar, hydro, and wind power. With this acquisition, the company is diversifying into data management while maintaining its commitment to sustainability and innovation. This integration aligns with its goal of creating new growth avenues while contributing to a stable and skilled workforce.
