CESC Subsidiary Revises Acquisition Timeline to Nov 21

CESC Limited's subsidiary, Purvah Green Power Private Limited (PGPPL), has amended its Share Purchase Agreement (SPA) for the acquisition of 100% share capital of six target companies from ReNew Solar Power Private Limited. The indicative timeline for completing this acquisition has been revised from October 31, 2026, to November 21, 2026. These target companies, collectively holding approximately 1.4 GWp of operational renewable power capacity, will become step-down subsidiaries of CESC Limited post-acquisition. The transaction is expected to significantly expand CESC's renewable power footprint and accelerate its Pan-India presence, increasing its operational capacity to over 1.8 GWp and contracted/tied-up capacity to over 3 GWp. The enterprise value is INR 4,859 crores, with a cash consideration of INR 1,582 crores payable on closing, subject to post-closing adjustments.