Acquisitions10 Jun 2026, 03:55 pm
Rane Subsidiary Acquires 26% Stake in Solar Energy Firm
AI Summary
Rane Steering Systems Private Limited, a wholly owned subsidiary of Rane Holdings Ltd, has entered into a Power Purchase Agreement with Hexa Energy BH Eleven Private Limited for renewable energy procurement. Concurrently, RSSL will acquire a 26% equity stake in Hexa Energy for ₹0.78 crores. This move aims to comply with captive power consumption regulations under Indian Electricity laws and secure solar power for its Bawal plant. The acquisition is expected to be completed within 30 days.
Key Highlights
- Subsidiary Rane Steering Systems to acquire 26% stake in Hexa Energy.
- Acquisition cost is ₹0.78 crores for 26% equity.
- Purpose is to procure renewable solar energy for Bawal plant.
- Aims to comply with captive power consumption regulations.
- Acquisition to be completed within 30 days.
Price Impact
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