Enclosed intimation pertaining to completion of acquisition of 29.58% equity stake in Putrim Renewables Private Limited.
CARBORUNIV · price
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Carborundum Universal Ltd has completed the acquisition of a 29.58% equity stake in Putrim Renewables Private Limited (PRPL) for Rs. 6.48 crores. The acquisition was executed through a Share Subscription and Shareholders' Agreement with CSE Development (India) Private Limited and PRPL. This investment follows an earlier Power Purchase Agreement that the company had entered into with PRPL on 10th April 2026. The transaction marks Carborundum Universal's entry into the renewable energy space through a strategic minority stake in PRPL.
The acquisition is a relatively small investment (Rs. 6.48 crores) representing under 30% stake, suggesting a strategic minority investment rather than a controlling acquisition. It signals the company's diversification into renewable energy, though the financial impact on the company's bottom line is likely to be modest at this stage.