Indian Metals & Ferro Alloys Limited has informed the Exchange about Acquisition
IMFA · price
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IMFA has entered into a 29-year Power Purchase Agreement with EG Urja Strot Private Limited to secure approximately 65 MW of hybrid renewable power (81.4 MW solar, 102.6 MW wind, and 25 MWh battery storage). The company will subscribe to 26% equity capital in the power producer at a total cost of ₹110.18 crore in one or more tranches. This is structured under the Captive Consumer framework under the Electricity Act, 2003. The deal is not a related party transaction and is expected to complete by June 2027. EG Urja Strot is a newly incorporated company (March 2025) with no prior turnover.
This strategic investment secures long-term renewable energy supply for IMFA's ferro alloy operations, reducing energy costs and carbon footprint. The 26% equity stake gives IMFA captive power access without full acquisition costs.