Century Enka Limited has informed the Exchange about the application made for an additional 3796086 equity shares of ABREL Century Energy Limited a Special Purpose Vehicle by way of right issue.
CENTENKA · price
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Century Enka Limited has applied for 37,96,086 additional equity shares of ABREL Century Energy Limited (ABRELCEL), a Special Purpose Vehicle in the Aditya Birla group, by way of a rights issue. The total cost of acquisition is Rs. 3.80 crore (37,96,086 shares at Rs. 10 each, issued at par). The purpose is to maintain its 26% stake in ABRELCEL so that it continues to qualify as a 'Captive User' under the Electricity Act, 2003, for a group captive wind-solar hybrid power plant. The transaction is a related party deal but is done at arm's length. ABRELCEL reported a turnover of Rs. 1,949.10 lakhs as of March 31, 2025, and operates in wind-solar hybrid power generation.
No change in ownership percentage (remains at 26%) since ABRELCEL is also issuing shares to other members. The investment is small (Rs. 3.80 crore) and purely regulatory — it secures Century Enka's captive power status, which can help control long-term power costs. Minimal direct impact on stock price; it's a routine compliance-driven investment in a group SPV.