Investment27 March 2026 at 02:37 pm
Century Enka Ltd. Acquires 26% Stake in ABREL Century Energy Ltd. for Rs. 3,79,60,860
AI Summary
Century Enka Ltd. has applied for an additional 37,96,086 equity shares of ABREL Century Energy Ltd. (ABRELCEL), a Special Purpose Vehicle (SPV), through a right issue. The acquisition is aimed at maintaining a minimum twenty-six percentage (26%) of the equity shares of the Power Producer to qualify as a Captive User of the Power Producer as per the provisions of the Electricity Act, 2003 read with Electricity Rules, 2005. The cost of acquisition is Rs. 3,79,60,860. ABRELCEL was incorporated on 10th March 2022 and its current turnover is Rs.1,949.10 Lakhs (as on 31st March 2025).
Key Highlights
- Century Enka Ltd. is acquiring 26% stake in ABREL Century Energy Ltd. for Rs. 3,79,60,860
- The acquisition is to maintain a minimum 26% stake to qualify as a Captive User of the Power Producer
- ABRELCEL was incorporated on 10th March 2022 and has a current turnover of Rs.1,949.10 Lakhs (as on 31st March 2025)
- The transaction is at arm’s length as the shares are acquired by Century Enka Limited at par value
- ABRELCEL is a Special Purpose Vehicle for setting up of captive power projects i.e., electric power generation through wind & solar
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