BSE Approves Preferential Issue of 39.42 Lac Shares via Share Swap

The company has received in-principle approval from BSE Limited for a preferential issue of 39,42,046 equity shares. These shares, with a face value of ₹2/- each, will be issued at a price not less than ₹59.65/- per share to the promoter/promoter group on a share swap basis. This preferential issue is for consideration other than cash, specifically for the acquisition of equity shares of Chirchind Hydro Power Private Limited (CHPPL). The transaction aims to consolidate CHPPL as a subsidiary, aligning with the company's strategic objective to integrate small hydro power into its long-term business platform. The company will now proceed with the necessary steps for allotment and post-issue compliances.