Acquisition of equity stake in Special Purpose Vehicles
GRASIM · price
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Grasim Industries' board has approved acquisition of 26% equity stake in Ampin C&I Power Thirty Private Limited, a Special Purpose Vehicle formed for supply of renewable hybrid energy at Harihar, Karnataka under Group Captive Scheme. The SPV is developing a wind-solar hybrid power generation facility with capacity of 37.95 MWp DC/25.30 MW AC Solar and 27 MW AC Wind. The investment amounts to up to Rs. 30.60 crore in cash consideration. The acquisition is not a related party transaction and does not require any governmental or regulatory approval. Completion is expected within 180 days from execution of agreements.
This is a strategic move by Grasim to secure renewable energy for captive consumption, optimise energy costs, and meet regulatory requirements for green energy sourcing. The investment of Rs. 30.60 crore is relatively small relative to Grasim's overall size and unlikely to have significant impact on the stock price.