INDIAN METALS & FERRO ALLOYS LTD. to Acquire 16.26% Stake in AMPIN ENERGY UTILITY ONE PRIVATE LIMITED for Rs. 61.60 Crore

INDIAN METALS & FERRO ALLOYS LTD. has entered into a Binding Term Sheet with AMPIN ENERGY UTILITY ONE PRIVATE LIMITED to supply hybrid renewable power of 40 MW Contracted Demand. The Company will acquire a 16.26% stake in AMPIN ENERGY UTILITY ONE PRIVATE LIMITED for a consideration of Rs. 61.60 Crore in one or more tranches. AMPIN ENERGY UTILITY ONE PRIVATE LIMITED is a Renewable Energy company incorporated on 28th April 2024. The acquisition is not a related party transaction and does not require any governmental or regulatory approvals. The acquisition is expected to be completed by June 2026.