Acquisitions9 Feb 2026, 08:04 pm
Aurobindo Pharma to Acquire 26% Stake in Garuda Renewables for Rs. 66 Crores
AI Summary
Aurobindo Pharma Ltd. has approved the acquisition of a 26% stake in Garuda Renewables Private Limited for Rs. 66 crores. Garuda is a special purpose vehicle for undertaking greenfield investment in solar and wind hybrid power projects. The acquisition aims to procure renewable energy from hybrid sources of wind and solar, resulting in substantial savings in power costs and improved ESG profile for Aurobindo Pharma.
Key Highlights
- Aurobindo Pharma to invest Rs. 66 crores in Garuda Renewables
- Garuda is a special purpose vehicle for solar and wind hybrid power projects
- Acquisition aims to procure renewable energy and improve ESG profile
- Expected to result in substantial savings in power costs
- 6 months completion period subject to regulatory approvals