GRP Ltd Invests ₹2.6 Cr in BECIS Solar, Acquires 26.43% Stake

GRP Ltd has completed its investment in BECIS Solar 5 Private Limited by subscribing to and being allotted 2,60,48,649 equity shares at Rs. 1 each, for a total consideration of ₹2.60 crore. This investment, made on a rights basis, brings GRP Ltd's shareholding in BECIS Solar to 26.43%. BECIS Solar is establishing an 8 MW solar power project to supply power to GRP Ltd on a long-term basis. This strategic investment aligns with regulatory requirements for captive users and aims to reduce energy costs while promoting renewable energy usage.