EIH Limited has informed the Exchange about acquisition as attached
EIHOTEL · price
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EIH Limited has completed acquisition of 26% equity stake in TP Varun Limited, a subsidiary of Tata Power Renewal Energy Limited, for ₹2,66,63,950 (approximately ₹2.67 crore). The acquisition was completed on 01st April 2026 and was mandated by the Electricity Act, 2003 and Electricity Rules, 2005, which require captive power users to hold at least 26% equity in the Special Purpose Vehicle owning the power plant. TP Varun Limited is setting up ground-mounted solar photovoltaic power projects in India. The investment will enable EIH to procure dedicated renewable electricity for its hotel operations, achieving cost savings and supporting sustainability and ESG goals. TP Varun Limited was incorporated in July 2023 and has nil turnover for the last two financial years. This is not a related party transaction.
This is a strategic investment for captive renewable energy supply to EIH's hotels rather than a significant financial acquisition. The ₹2.67 crore investment is relatively small for a company like EIH, and the primary benefit is operational cost savings and ESG compliance rather than revenue generation.