Business Update18 Apr 2024, 03:33 am
Aster DM Healthcare Acquires 26% Stake in OYSTER GREEN HYBRID for Solar Power Plant
AI Summary
Aster DM Healthcare Ltd and Malabar Institute of Medical Sciences Limited have agreed to acquire a 26% stake in OYSTER GREEN HYBRID TWO PRIVATE LIMITED to meet a part of their electricity requirements through renewable sources. The target entity is engaged in the business of generating solar energy and is yet to commence operations.
Key Highlights
- Aster DM Healthcare and Malabar Institute of Medical Sciences to purchase a 26% stake in OYSTER GREEN HYBRID
- Target entity is involved in the solar energy sector and is yet to commence operations
- Acquisition is to fulfill part of Aster DM Healthcare's electricity requirements
- OYSTER GREEN HYBRID has agreed to build and manage a 18 MWp captive solar power plant at the Project Site
- The acquisition is required by law as per the Electricity Act