Esab India Ltd to Increase Shareholding in Sunsure Solar Park Twenty-Four Private Limited to 17.38%

Esab India Ltd is set to subscribe additional equity in Sunsure Solar Park Twenty-Four Private Limited (SPV), a power generating company, resulting in an increased shareholding from 9.78% to 17.38%. The SPV is in the process of setting up a Solar Power Generation Plant for supplying power to corporates, including Esab India's manufacturing plants in Tamil Nadu. This move is not a pure acquisition but a subscription of equity to become eligible power consumers. The commencement of the power project is subject to the receipt of all consents and permissions from the regulatory authority.