GEM Enviro to acquire 26% stake in Solluz Energy for ₹5.28 Cr

GEM Enviro Management Ltd has entered into a revised Share Subscription Agreement with Solluz Energy Private Limited to acquire 21,10,680 Equity Shares, representing 26% of Solluz's share capital. The total investment amounts to ₹5,27,67,000 (₹5.28 Crore), with each equity share acquired at an issue price of ₹25. This transaction will make Solluz an associate of GEM Enviro. The agreement includes significant terms such as the right to appoint a director, pre-emptive rights on future share issuances, and tag-along rights. The revision in the agreement pertains to the issue price per equity share, which was adjusted from ₹24 to ₹25.