Nitin Spinners Limited has informed the Exchange regarding 'Intimation of Acquisition under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015'.
NITINSPIN · price
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Nitin Spinners is acquiring a 18.12% equity stake (1,71,71,361 shares) in CGE II Hybrid Energy Private Limited for Rs. 17.17 crore in cash. CGE II Hybrid Energy is a newly formed SPV subsidiary of Continuum Green Energy Limited, set up to generate and supply renewable (wind-solar hybrid) power in Rajasthan. The target has nil turnover so far and was incorporated in December 2021. The acquisition is not a related-party transaction and is expected to close by 31 August 2025. The purpose is to secure 18 MW of captive renewable power for Nitin Spinners' textile plants located at Hamirgarh, Bhilwara and Bhanwaria Kalan in Rajasthan, qualifying under the Electricity Act's captive consumer rules.
This is a small, strategic investment aimed at securing long-term green power supply for the company's textile manufacturing units, which should improve energy cost stability and support sustainability goals. Given the modest deal size relative to Nitin Spinners' operations, the immediate impact on stock price is likely limited, but it signals the company's focus on renewable energy adoption.