Joint Ventures3 April 2026 at 08:05 am
Sarda Energy & Minerals Ltd.: Board Approves New Company Incorporation, Hydro Power Acquisition, and Executive Director Appointment
AI Summary
Sarda Energy & Minerals Ltd. announced the outcomes of its Board Meeting held on 3rd April 2026. The Board approved the incorporation of a new company with Chhatisgarh Investment Ltd. for real estate development, with an estimated investment of ₹ 25 crore. The company also agreed to acquire a majority stake in Adishankar Khuitam Power Pvt. Ltd., a hydro power company, for ₹ 25 crores, subject to required approvals. Lastly, Mr. Partha Sarthi Dutta Gupta was appointed as Executive Director – Power & Corporate Affairs (Sr. Management Personnel) to manage the thermal Power division of the Company.
Key Highlights
- Incorporation of a new company with Chhatisgarh Investment Ltd. for real estate development with 50% stake
- Expected benefits include improved realisation from the investment properties of the Company
- Acquisition of majority stake in Adishankar Khuitam Power Pvt. Ltd. for ₹ 25 crores
- Acquisition aims to increase the portfolio of green energy generation of the group by 66 MW
- Appointment of Mr. Partha Sarthi Dutta Gupta as Executive Director – Power & Corporate Affairs (Sr. Management Personnel)