Cipla Acquires 26% Stake in AMPIN Energy C&I Eighteen for INR 1,46,40,000

Cipla Ltd. announced that its subsidiary, Jay Precision Pharmaceuticals Private Limited, has entered into a Share Purchase, Subscription and Shareholder’s Agreement to acquire a 26% stake on a fully diluted basis in AMPIN Energy C&I Eighteen Private Limited. The acquisition aims to enhance the share of renewable power source in Cipla's operations and comply with regulatory requirements for being a captive user under Indian electricity laws. The transaction is expected to be completed within 1 month from the date of signing the documents. AMPIN Energy C&I Eighteen Private Limited is a special purpose vehicle formed for setting up a captive solar power project in Maharashtra, with no history of last 3 years' turnover and is incorporated in India for engaging in the business of generating, producing, accumulating, storing, improving, buying, selling, reselling, transmitting, distributing, and supplying electrical power generated using solar energy and other sources of renewable energy.