Aarti Industries has entered into a Share Subscription and Shareholder’s Agreement with Prozeal Green Power and Pro-Zeal Green Power Seven. This transaction entails acquisition of 26.25% Equity Shares / Voting Rights and Compulsory Convertible Debentures by the company in ProZeal Green Power Seven- a Special Purpose Vehicle (SPV) formed for developing, constructing, operating and maintaining a 9.24 MW solar power plant exclusively to cater the company’s power requirement partly.
This is in line with the company’s commitment towards procuring power through renewable resources. The SPV will start generating Power from H2 / FY26 and support the company in reducing its power costs. The said acquisition is expected to be completed within 30 days from the execution of share subscription and shareholders’ agreement.
Aarti Industries is engaged in manufacturing and dealing in speciality chemicals and pharmaceuticals.
Company Name | CMP |
---|---|
Tata Chemicals | 845.20 |
SRF | 2776.20 |
Pidilite Inds. | 2794.10 |
Aarti Inds | 412.60 |
Atul | 5496.65 |
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