Investment10 Mar 2025, 11:16 pm
HEG Ltd Approves INR 250 Crore Investment in Bhilwara Energy Limited by Singularity Growth Opportunities Fund Il
AI Summary
HEG Ltd announced that its Board of Directors has approved the execution of a share subscription and shareholders' agreement on 10 March 2025. The agreement is between HEG Limited, Singularity Growth Opportunities Fund Il, Bhilwara Energy Limited, and existing shareholders of BEL. The investment involves INR 250,00,22,488 by Singularity and its affiliates, which will result in a 9.6% stake in BEL post-issuance. Singularity also has the option to invest an additional INR 250,00,00,000 in BEL based on certain conditions.
Key Highlights
- HEG Ltd approves INR 250 crore investment in Bhilwara Energy Limited by Singularity Growth Opportunities Fund Il.
- The investment involves INR 250,00,22,488 by Singularity and its affiliates, resulting in a 9.6% stake in BEL post-issuance.
- Singularity has the option to invest an additional INR 250,00,00,000 in BEL based on certain conditions.
- Bhilwara Energy Limited is an associate company of HEG Ltd, with HEG holding 49.01% of BEL's paid-up share capital.
- The investment is not a related party transaction.