Birla Cable has entered into a Share Purchase and Shareholders Agreement with Continuum MP Windfarm Development (Target Company) and Continuum Green Energy (India) (Promoter of the Target Company) on November 4, 2023 to acquire/purchase 17,39,400 number of fully paid-up Equity Shares / Optionally Convertible Debentures / Compulsorily Convertible Debentures of face value of Rs 10 each for cash at par of the Target Company, by making an investment aggregating to Rs 173.94 lakh.
The company intends to purchase 1.5 MW green energy from the Target Company through Long Term Open Access (LTOA) / Medium Term Open Access (MTOA) as a captive user under the Intrastate group captive scheme.
Birla Cable (Formerly known as Birla Ericsson Optical) is a premier company in the field of Telecommunication Cables, which offers one of widest portfolio of Copper and Fibre Optic cables under its umbrella.
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