Enclosed Regulation 30 intimation.
CARBORUNIV · price
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Carborundum Universal Limited (CUMI) has completed an investment of Rs. 7.96 crore in Grian Energy Private Limited (GEPL), acquiring a 4.19% equity stake. This follows the Share Subscription and Shareholders' Agreement signed on 16th September 2024 with Amplus Energy Solutions PTE (Singapore) and GEPL, under which CUMI was to invest up to Rs. 8 crore. The purpose of the investment is purely to access around 10 MW of contracted capacity from GEPL's captive solar power plant for CUMI's own green power consumption. The investment is minor in size and is operational in nature rather than a strategic expansion.
This is a small, strategic minority investment (under 5% stake) aimed at securing captive green energy supply. It is unlikely to materially affect CUMI's financials or shareholder value, but supports its sustainability and renewable energy sourcing goals.