Everest Industries Limited has informed the Exchange about Investment in Amplus Ampere Private Limited (Amplus) and to avail 5.5 MWp solar power under a group captive policy from the solar plant of Amplus
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Everest Industries' board has approved a Rs. 1.76 crore investment in Amplus Ampere Private Limited, a solar power SPV, by acquiring 17,60,000 equity shares at face value (Rs. 10 each), giving it a 3.12% stake. The purpose is to secure 5.5 MWp of solar power for the company's own use under a group captive policy in Maharashtra, out of Amplus's total 54.94 MWp capacity (representing a 30% share of the plant). Amplus is a special purpose vehicle floated by Amplus Energy Solutions PTE LTD, incorporated in March 2021, with no turnover in the last three financial years. The deal is entirely in cash, is not a related party transaction, and is expected to be completed by September 30, 2025.
This is a small, strategically driven investment aimed at boosting Everest's renewable energy usage and reducing its power costs in Maharashtra. The financial impact is negligible given the modest ticket size, but it supports the company's ESG and sustainability goals, which is mildly positive for long-term shareholders.