Intimation for Investment in Oversees Joint venture Company by acquisition of 2.5% Equity Shares.
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Rudra Gas Enterprise's board, at a meeting on 5th June 2025, approved the acquisition of a 2.5% equity stake (25,000 shares) in Greenstat Asia (Private) Limited, Sri Lanka. Greenstat Asia is a wholly owned subsidiary of Greenstat Hydrogen Private Limited and operates in the green hydrogen and renewable energy space. The target company has not yet commenced business operations and has an equity share capital of Rs. 10 lakh. Importantly, the consideration amount for this acquisition is currently NIL — no cash has been paid yet. This investment extends the company's existing joint venture with the Greenstat Group, aimed at expanding into international green hydrogen and renewable energy markets.
This is a small, non-cash initial step into an overseas JV focused on green hydrogen and renewables, signalling management's intent to diversify geographically and into clean energy. With NIL consideration and the target yet to start operations, the near-term financial impact on shareholders is negligible, but the move could be a positive long-term growth signal if the green hydrogen venture scales up.