Nandan Denim Limited has informed the Exchange regarding Outcome of Board Meeting held on April 17, 2026.
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Nandan Denim's Board approved acquiring 6.1% equity stake in Opera Vayu (Narmada) Private Limited for ₹4 crore through a Share Transfer cum Shareholders' Agreement. The SPV operates a Wind & Solar Hybrid Power Plant in Gujarat. Nandan Denim will procure 4.3 MW of power out of 23.1 MW total capacity under the Electricity Act 2003 Group Captive route. The investment aims to reduce power costs at the company's Bareja Plant. Cash consideration is being paid, and the deal is expected to close by June 30, 2026. This is not a related party transaction.
The acquisition provides Nandan Denim access to captive renewable energy at competitive rates for 25 years, which could lower manufacturing costs. The ₹4 crore investment is relatively small, so immediate stock impact may be limited, but it signals the company's focus on cost reduction through renewable energy sourcing.