TVS Srichakra Limited has informed the Exchange about Acquisition
TVSSRICHAK · price
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On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.4 pts more than its Tyres & Rubber Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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TVS Srichakra, a tyre manufacturer, has invested Rs. 3.79 crore to acquire 19,863 equity shares of Navia Two Power Private Limited by subscribing to a rights issue at Rs. 10 face value plus a premium of Rs. 1,897.02 per share. This takes its total holding in Navia from 5,915 to 25,778 shares, representing a 5.92% stake in the paid-up equity capital. Navia is a Special Purpose Vehicle of the Zelestra Group, set up to own and operate a solar captive power plant. The acquisition is purely cash-based and not a related party transaction. The purpose is to meet regulatory requirements for captive power consumption under Indian electricity laws, helping the company source renewable energy for its manufacturing operations.
This is a small, operational investment aimed at securing captive solar power for TVS Srichakra's factory rather than a transformative deal. The 5.92% stake is unlikely to materially impact financials or shareholder value, but it reflects a step towards lower-cost renewable power and regulatory compliance.