Acquisitions7 Aug 2025, 08:52 pm
Biocon to Acquire 26% Stake in Pro-zeal Green Power for Solar Power Generation
AI Summary
Biocon Ltd. has approved the acquisition of a 26% stake in Pro-zeal Green Power Sixteen Private Limited (PGPSPL), a company incorporated under the Companies Act, 2013. The acquisition is aimed at enhancing renewable-based power consumption and maintaining captive status as per the Electricity Act. The investment is expected to be up to Rs. 1.40 crores. PGPSPL will set up a Solar Power Plant with a capacity of 3 MW (AC) in the state of Telangana and is engaged in the business of renewable energy generation.
Key Highlights
- Biocon to acquire 26% stake in Pro-zeal Green Power Sixteen Private Limited
- Investment of up to Rs. 1.40 crores for the acquisition
- Acquisition aimed at enhancing renewable-based power consumption
- PGPSPL to set up a Solar Power Plant with a capacity of 3 MW (AC)
- PGPSPL engaged in the business of renewable energy generation