Announced Sat, 20 Jun · 18:32 IST
Concord Biotech to invest Rs 6.3 Cr in FSGE Renewable Power for Limbasi facility
CONCORDBIO · price
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Price reaction · full curve 14 horizons · vs prior close
+0.5%1-day move
₹1314.00
prior close
₹1315.20
base price
After-mkt
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+1.5+2.8+3.3+3.7+0.5-1.9-2.2-3.4-2.3-2.2+1.5-2.9——
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AI summary
Concord Biotech is acquiring 27.38% stake in FSGE Renewable Power Pvt Ltd for Rs 6.3 Cr in cash. FSGE will set up a Wind Solar Hybrid Power Project with about 6.3 MW wind and 6.3 MW solar capacity in Gujarat to supply power to Concord's Limbasi facility. FSGE, a special purpose vehicle, will become an associate company. The deal is a related party transaction done at arm's length, with shares to be allotted within 60 days. FSGE has not yet started commercial operations.
Likely market impact
Supports sustainability goals and may lower long-term energy costs at Limbasi. Small investment, limited direct impact on financials.