Aarti Pharmalabs Acquires 26.25% Stake in Pro-Zeal Green Energy Five for Rs. 2.97 Crores

Aarti Pharmalabs Ltd has entered into a Share Subscription and Shareholder’s Agreement with Pro-zeal Green Power Private Limited, a Special Purpose Vehicle formed for developing, constructing, operating and maintaining a solar power plant. The acquisition of 26.25% of the Equity Shares/ Voting Rights of the SPV and Compulsory Convertible Debentures is aimed at meeting the green energy needs and optimising energy costs. The transaction is being carried out at arm’s length basis. The cost of acquisition is Rs. 2.97 Crores. Pro-Zeal Green Energy Five is a private Company incorporated on June 25, 2024 with no turnover. The acquisition is expected to be completed within 30 days from the execution of the agreement.