Nandan Denim Limited has informed the Exchange about Acquisition
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Nandan Denim Limited's Board has approved acquisition of 6.1% equity stake in Opera Vayu (Narmada) Private Limited (SPV) for ₹4,00,20,960 in cash. The SPV operates a Group Captive Renewable Energy Power Plant with 23.1 MW wind and 25 MW DC solar capacity in Gujarat. Nandan Denim will source 4.3 MW of power from this plant for 25 years at competitive rates for its Bareja manufacturing facility. The company will also provide an irrevocable bank guarantee of ₹1.90 crores. This acquisition is not a related party transaction and is expected to complete by 30th June 2026.
This acquisition will help Nandan Denim reduce its power costs by securing captive renewable energy supply, potentially improving margins at its textile manufacturing plant. The small 6.1% stake acquisition is not significant enough to materially impact financials but supports the company's sustainability initiatives.