Biocon acquires 37.77% stake in solar power SPV AMPIN for Rs 5.48 cr
BIOCON · price
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Biocon acquired equity in Ampin C&I Power Twelve (AMPIN), a Special Purpose Vehicle for solar power. It invested Rs 5.48 crores for 54,76,000 new shares at Rs 10 face value. Biocon will hold 59,76,000 shares (37.77% undiluted, reducing to 15.91% fully diluted post other investments). AMPIN is setting up a 27.12 MW solar plant in Karnataka. Not a related party deal. Aimed at boosting renewable energy use, cutting power costs, and supporting decarbonization goals.
Minor solar SPV stake to secure captive renewable power and reduce energy costs; small cash outlay, aligned with sustainability goals.