Nuvoco Vistas Corporation Ltd Acquires 100% Securities of Algebra Endeavour Private Limited for INR 200 Crores

Nuvoco Vistas Corporation Ltd has signed and executed a Securities Purchase Agreement for the acquisition of 100% securities of Algebra Endeavour Private Limited, the holding company of Vadraj Energy (Gujarat) Limited. The acquisition is for a total consideration of INR 200 crores. Algebra is engaged in the business of providing advisory services and investment activities. The acquisition will provide Vadraj Energy's power plants at Kutch and Surat for Nuvoco's captive power consumption. The transaction is expected to close within 10 days from the date of completion of all the condition precedents entailed in the SPA.