Haldyn Glass Acquires 8.5% Stake in Jamnagar Renewables Two Private Limited for Rs. 5.28 Crores

Haldyn Glass Ltd. has executed a Share Purchase & Shareholder’s Agreement with Jamnagar Renewables Two Private Limited, along with Continuum Green Energy Limited, to acquire 8.5% stake in Jamnagar Renewables Two Private Limited. The total cost of acquisition is Rs. 5.28 crores for 52,82,994 equity shares having a face value of Rs. 10/- each at an issue price of Rs. 10/- per equity share. Jamnagar Renewables Two Private Limited is a subsidiary of Continuum Green Energy Limited and is engaged in the business of generation of electricity from renewable energy sources. The electricity generated will be sold under Captive Scheme as per Power Consumption Agreement entered with them. The company is yet to commence its main business operations and has a paid-up capital of Rs. 62.12 crores.