Announcement under Regulation 30 (LODR) - Signing of Share Purchase and Shareholder''s Agreement
HALDYNGL · price
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Haldyn Glass Limited has signed a Share Purchase and Shareholder's Agreement to acquire 8.5% equity stake in Jamnagar Renewables Two Private Limited, a renewable energy company and subsidiary of Continuum Green Energy Limited. The total cost of acquisition is Rs. 5.28 crores, paid in cash, for 52,82,994 equity shares at Rs. 10 per share. The purpose is to procure renewable power for the company's operations under the captive generation scheme. The target company is newly incorporated (May 2024) with no turnover yet as it has not started operations. The deal is expected to complete by end of September 2025 and is not a related party transaction.
This is a small strategic investment (about 8.5% of Haldyn's paid-up capital of Rs. 62.12 crores) aimed at securing captive renewable energy supply rather than a major expansion, so direct financial impact on shareholders is limited. However, it signals the company's move toward green energy sourcing, which may support long-term cost efficiency and ESG positioning.