Acquisitions10 Jan 2025, 02:14 am
Aarti Drugs Ltd. Acquires 26.25% Stake in Pro-Zeal Green Power Six Private Limited for Renewable Energy Supply
AI Summary
Aarti Drugs Ltd. has executed a Share Subscription and Shareholders’ Agreement with Prozeal Green Power Private Limited and Pro-Zeal Green Power Six Private Limited. The agreement includes the acquisition of at least 26.25% Equity Shares of the SPV and Compulsory Convertible Debentures. The SPV, Pro-Zeal Green Power Six Private Limited, is a Special Purpose Vehicle formed for developing, constructing, operating, and maintaining a solar power plant. The generated solar power will be supplied to Aarti Drugs Limited for its captive consumption, optimizing energy costs and meeting green energy needs.
Key Highlights
- Aarti Drugs Ltd. has signed and executed a Share Subscription and Shareholders’ Agreement with Prozeal Green Power Private Limited and Pro-Zeal Green Power Six Private Limited.
- The agreement includes the acquisition of at least 26.25% Equity Shares of the SPV and Compulsory Convertible Debentures.
- Pro-Zeal Green Power Six Private Limited is a Special Purpose Vehicle formed for developing, constructing, operating, and maintaining a solar power plant.
- The solar power generated by the SPV will be supplied to Aarti Drugs Limited for its captive consumption.
- The acquisition is aimed at optimizing energy costs and meeting green energy needs.