Birla Corporation Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Birla Corporation's wholly owned subsidiary RCCPL Private Limited has signed agreements to acquire a 26% equity stake in Enfinity Global Energy Innovations Private Limited (EGEIPL) for ₹2.94 crores in cash. EGEIPL is a renewable energy company incorporated in May 2023 with no turnover so far. The purpose is to secure up to 6 MW of renewable power as a group captive consumer for RCCPL's plant at Kundanganj, Uttar Pradesh. The transaction is not a related-party deal and is subject to customary conditions, expected to close by 31st March 2026.
The investment size is small and aimed at long-term renewable power supply for the subsidiary's cement plant, which could help reduce energy costs and carbon footprint. Material impact on the parent company's stock is unlikely in the near term.