Pudumjee Paper Sells MITCON Solar Stake for ₹2.4 Cr

Pudumjee Paper Products Ltd has executed a Share Purchase Agreement to sell 12,04,999 Equity Shares in MITCON Solar Alliance Limited to MITCON Sun Power Limited for an aggregate consideration of ₹2,40,49,990 plus applicable taxes. MITCON Solar Alliance Limited is a Special Purpose Vehicle for setting up and operating a Captive Solar Power Plant. Upon completion, Pudumjee Paper will cease to be a shareholder. The transaction is not a related party transaction and is expected to be completed within a month. MITCON Solar Alliance Limited reported a total income of ₹679.26 Lakhs and total equity of ₹984.81 Lakhs for FY25-26.