Aurobindo Pharma Limited has updated on acquisition of 26% stake in Swarnaakshu Solar Power Private Limited
AUROPHARMA · price
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Aurobindo Pharma has informed exchanges that its plan to acquire up to 26% stake in Swarnaakshu Solar Power Private Limited has been delayed. The investment, originally expected by September 30, 2025, will now be completed on or before December 31, 2025. The delay is because the company is still waiting for state government approval to set up a captive solar power plant. This acquisition is part of Aurobindo's captive solar power purchase agreement with Swarnaakshu, aimed at securing renewable energy for its operations. The deal is still on track, only the timeline has been pushed back by about three months.
Minor delay in execution but the deal is still progressing. This is a strategic step towards renewable energy adoption for Aurobindo's manufacturing needs and is unlikely to materially impact the stock price in the near term.