Acquisitions30 May 2025, 07:13 pm
Lloyds Metals and Energy Ltd. to Acquire Stake in Hexa Energy MH3 and W2 for Power Procurement
AI Summary
Lloyds Metals and Energy Ltd. has approved the acquisition of minimum 26% Equity Stake in Hexa Energy MH3 Private Limited and Hexa Energy W2 Private Limited for Power Procurement under the Group Captive Scheme. The Company will subscribe to equity shares in each Hexa W2 and Hexa MH3 to minimum 26% of the share capital in each of the Company, thereby qualifying as a captive user under applicable law. The Company’s investment will be made in tranches as per the terms of the SSSHAs, and the Company will ensure consumption of at least 51% of the power generated by each project/company on an annual basis.
Key Highlights
- Acquisition of minimum 26% Equity Stake in Hexa Energy MH3 Private Limited and Hexa Energy W2 Private Limited
- Investment to be made in tranches as per the terms of the SSSHAs
- Company to ensure consumption of at least 51% of the power generated by each project/company on an annual basis
- Company to qualify as a captive user under applicable law
- Investment aimed at utilizing the power generated by the captive power plant, in accordance with applicable electricity laws