Biocon Acquires Stake in Solar Power SPV Ampin C&I

Biocon Ltd has acquired an equity stake in Ampin C&I Power Twelve Private Limited (AMPIN), a Special Purpose Vehicle (SPV) established for solar power generation and supply. The acquisition, valued at ₹5.48 crore for 54,76,000 equity shares, represents an initial 37.77% stake, expected to reduce to 15.91% post-dilution. This move aligns with Biocon's renewable energy objectives, supporting green energy procurement, decarbonization goals, and aims to reduce energy costs and carbon footprint. AMPIN will establish a 27.12 MW solar power plant in Karnataka. The acquisition is not a related party transaction.