Acquisitions30 Jun 2025, 04:21 pm
Aurobindo Pharma delays 26% stake acquisition in Swarnaakshu Solar Power due to state government approval
AI Summary
Aurobindo Pharma Ltd. has announced a delay in its acquisition of a 26% stake in Swarnaakshu Solar Power Private Limited. The initial plan was to complete the acquisition and set up a captive solar power plant by June 30, 2025. However, due to pending state government approval for setting up the captive solar power plant, the required investment for the 26% stake acquisition will now be completed on or before September 30, 2025, subject to the receipt of approval from the concerned state government.
Key Highlights
- Aurobindo Pharma delays 26% stake acquisition in Swarnaakshu Solar Power due to state government approval
- The initial plan was to complete the acquisition and set up a captive solar power plant by June 30, 2025
- The required investment for the 26% stake acquisition will now be completed on or before September 30, 2025
- The delay is due to pending state government approval for setting up the captive solar power plant
- The acquisition is subject to the receipt of approval from the concerned state government