Indian Metals & Ferro Alloys Limited has informed the Exchange about Rescission/termination(s)
IMFA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
IMFA has terminated by mutual agreement its Power Purchase Agreement (PPA) and Share Subscription and Shareholders' Agreement (SSHA) with Ampin Energy Utility One Private Limited, effective 14th May 2026. The agreements were for supplying 40 MW hybrid renewable power (58 MW solar and 58 MW wind capacity). The termination was due to delays in project delivery timeline and project approvals. As part of the SSHA, IMFA had invested Rs. 12.32 crore for a 4.36% equity stake (1,23,20,000 shares) in the power producer, which will be refunded. The company states it is in advanced discussions with another renewable energy developer and expects to sign binding documents in Q1FY27.
The termination is neutral-to-mildly negative as it reflects a failed energy diversification initiative. Shareholders should note the refund of Rs. 12.32 crore and the company's intent to pursue alternative renewable energy partnerships.