Acquisitions22 May 2026, 05:11 pm
Manomay Tex to Acquire 26% Stake in LOV SMART RJ-1
AI Summary
Manomay Tex India Ltd has approved a share purchase agreement to acquire a 26% equity stake in LOV SMART RJ-1 PRIVATE LIMITED, a renewable energy company. This acquisition will augment captive renewable energy capacity of up to 13.65 MW (DC) for Manomay Tex's Rajasthan-based plants, ensuring long-term cost efficiency and sustainability. The acquisition is expected to be completed on or before November 30, 2026, and will be funded through cash consideration via online banking.
Key Highlights
- Manomay Tex to acquire 26% equity in LOV SMART RJ-1 for renewable energy.
- Acquisition to enhance captive renewable energy capacity by 13.65 MW (DC).
- Transaction expected to complete by November 30, 2026, via cash consideration.
- The acquisition is not a related party transaction.
- Renewable power purchase will qualify as captive consumer under Electricity Act.
Price Impact
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