Acquisitions4 May 2026, 06:31 pm
Premier Energies Subsidiary to Acquire 26% Stake in Hexa Energy for ₹68.7 Cr
AI Summary
Premier Energies Global Environment Private Limited, a wholly-owned subsidiary of Premier Energies Ltd, has approved and entered into a Share Subscription and Shareholders’ Agreement (SSSHA) to acquire a minimum 26% equity stake in Hexa Energy BH Five Private Limited for ₹68.70 Crore. The acquisition aims to meet the energy requirements for captive power consumption of the subsidiary’s Solar PV Cell Manufacturing Project in Naidupeta, Andhra Pradesh. The indicative timeline for completion is 16 months, subject to conditions precedent.
Key Highlights
- Premier Energies to acquire a minimum 26% stake in Hexa Energy BH Five Private Limited.
- The acquisition is valued at ₹68.70 Crore and will be completed in one or more tranches.
- Hexa Energy BH Five Private Limited is engaged in the generation and transmission of renewable energy.
- The acquisition will support the energy needs of Premier Energies' Solar PV Cell Manufacturing Project.
- The indicative completion timeline for the acquisition is 16 months.