B&B Triplewall Containers Limited has informed the Exchange about Acquisition
BBTCL · price
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B&B Triplewall Containers has approved acquiring a 6.50% equity stake each in two solar power companies — Manobaala Energy Private Limited for Rs. 18.39 lakh and Natesan Energy Farm Private Limited for Rs. 17.28 lakh, totalling about Rs. 35.67 lakh in cash. Both target firms are newly incorporated (February 2024) small solar energy companies with zero turnover so far. The acquisitions are linked to Power Purchase Agreements (PPAs) the company is signing with these entities to secure cheaper solar power for its manufacturing operations, as required under Tamil Nadu Electricity Board (TNEB) rules which mandate equity contribution by power buyers. The deals are expected to complete within 60 days, are not related-party transactions, and need no separate government approvals.
This is a small strategic investment aimed at locking in lower-cost captive solar power, which could help reduce the company's future electricity expenses. The financial outlay is minor (under Rs. 36 lakh combined) and unlikely to materially impact share price, though it signals a focus on renewable energy and cost efficiency.