UltraTech Cement Limited has informed the Exchange about Acquisition of 26% equity share capital of AMPIN C&I Power Forty Four Private Limited

UltraTech Cement is acquiring a 26% equity stake in AMPIN C&I Power Forty Four Private Limited for up to Rs. 15.12 crore in cash. The target is a newly incorporated special purpose vehicle (SPV) setting up a 45 MWp DC / 30 MW AC solar power project with battery storage in Golamunda, Kalahandi, Odisha, on a captive basis. The deal is structured through an Energy Supply Agreement and a Share Subscription and Shareholders Agreement, and is expected to be completed within 180 days. UltraTech says the move is aimed at meeting its green energy needs, optimising energy costs, and complying with captive power consumption rules. The transaction is not a related-party deal, and the promoter group has no interest in the target.