Business Update23 Dec 2023, 12:27 am
Grindwell Norton Limited to Invest in VEH Wind Energy Private Limited
AI Summary
Grindwell Norton Limited has approved an investment of up to INR 2110.4 million in VEH Wind Energy Private Limited for sourcing renewable energy, subject to fulfillment of closing conditions. The investment will be made through Grindwell Norton Limited's contribution equivalent to its proportionate shareholding in VEH, in accordance with the Electricity Act and Rules. The Board of the VEH will be responsible for compliance with the provisions of the Companies Act and rules made thereunder.,
Key Highlights
- Investment in VEH Wind Energy Private Limited for sourcing renewable energy
- Contribution of INR 2110.4 million by Grindwell Norton Limited
- Subject to fulfillment of closing conditions
- In accordance with the Electricity Act and Rules