Acquisitions26 Sept 2025, 03:57 pm
Aurobindo Pharma to Acquire 26% Stake in Swarnaakshu Solar Power Private Limited by December 2025
AI Summary
Aurobindo Pharma Ltd has updated its acquisition plans for Swarnaakshu Solar Power Private Limited. The company initially intended to enter into a captive solar power purchase agreement and acquire up to 26% stake in Swarnaakshu by September 30, 2025. However, due to pending state government approval for setting up a captive solar power plant, the required investment for acquiring 26% in Swarnaakshu will be completed on or before December 31, 2025, subject to the receipt of approval from the concerned state government.
Key Highlights
- Aurobindo Pharma to acquire 26% stake in Swarnaakshu Solar Power Private Limited
- Initial deadline for completion was September 30, 2025, now extended to December 31, 2025
- Extension due to pending state government approval for setting up a captive solar power plant
- Investment for the acquisition to be completed upon receipt of approval from the concerned state government
- Acquisition falls under the 'Acquisitions' category