Sahyadri Industries Limited has informed the Exchange about Acquisition
SAHYADRI · price
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Sahyadri Industries' Board has approved acquisition of up to 26% equity in Emerge Solar One Private Limited (ESOPL) for Rs. 1.30 crores. ESOPL is a newly incorporated company (October 2024) engaged in solar power generation with registered office in Tamil Nadu. The acquisition is intended to purchase solar power under a group captive scheme as per the Electricity Act, 2003. The transaction is not a related party transaction and does not require any governmental or regulatory approvals. The deal is expected to complete by September 30, 2026.
This is a small strategic investment (Rs. 1.3 crores) diversifying into renewable energy. The acquisition is too modest to have significant impact on Sahyadri's financials, but signals the company's intent to explore clean energy options through captive power arrangements.