EIH Ltd Acquires 26% Stake in TP Varun Limited for ₹2,66,63,950

EIH Ltd, a hospitality company, has invested ₹2,66,63,950 to acquire a 26% stake in TP Varun Limited, a subsidiary of Tata Power Renewal Energy Limited. This investment is in compliance with the Electricity Act, 2003 and the Electricity Rules, 2005, which mandates captive users to hold at least 26% of the equity share capital in the Special Purpose Vehicle (SPV) that owns the power plant. This acquisition will enable EIH Ltd to procure dedicated renewable electricity supply for its hotel operations, achieving cost savings and supporting sustainability and ESG goals.