Aarti Industries inks pact to acquire 26.25% stake in ProZeal Green Power Seven

29 Jan 2025 Evaluate

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.


Aarti Inds Share Price

412.60 -10.40 (-2.46%)
21-Feb-2025 16:59 View Price Chart
Peers
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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