Investment2 Jun 2025, 05:11 pm
Jindal Stainless Ltd Acquires 33.64% Stake in Oyster Green for ₹79.20 Crores
AI Summary
Jindal Stainless Ltd has acquired a 33.64% equity stake in Oyster Green Hybrid One Private Limited for ₹79.20 crores. Oyster Green is a special purpose vehicle formed in collaboration with Oyster Renewable Energy Private Limited to develop a 282 MW hybrid renewable energy project. This acquisition is expected to result in significant savings for the Company and aligns with its commitment to power future growth through renewable sources of energy.
Key Highlights
- Jindal Stainless Ltd acquires 33.64% equity stake in Oyster Green Hybrid One Private Limited
- Acquisition cost is ₹79.20 crores
- Oyster Green is a special purpose vehicle for developing a 282 MW hybrid renewable energy project
- Acquisition is expected to result in significant savings and aligns with the Company's commitment to renewable energy
- No governmental approvals required for the acquisition