Acquisitions4 Feb 2025, 08:34 pm
Aarti Drugs Acquires 26.25% Stake in Pro-Zeal Green Power Nine for Renewable Energy
AI Summary
Aarti Drugs Ltd. has entered into a Share Subscription and Shareholders’ Agreement with Prozeal Green Power Private Limited and Pro-Zeal Green Power Nine Private Limited. This acquisition entails acquiring 26.25% Equity Shares/ Voting Rights and Compulsory Convertible Debentures in Pro-Zeal Green Power Nine Private Limited, a Special Purpose Vehicle formed for developing a 24.40 MWp (19.36 MW) solar power plant. This move aligns with the company's commitment to procuring power through renewable resources.
Key Highlights
- Aarti Drugs Ltd. acquires 26.25% stake in Pro-Zeal Green Power Nine Private Limited
- Transaction value is Rs. 8,05,20,000 (Rupees Eight Crore Fifty Two Thousand Only)
- Acquisition of Equity Shares and Compulsory Convertible Debentures in Pro-Zeal Green Power Nine Private Limited
- Pro-Zeal Green Power Nine Private Limited is a Special Purpose Vehicle for developing a 24.40 MWp (19.36 MW) solar power plant
- This acquisition aligns with Aarti Drugs' commitment to renewable energy