Deals12 Mar 2024, 01:54 am
RPG Life Sciences invests up to Rs. 1.10 Crores in Sunpound Solar Private Limited for 26% equity
AI Summary
RPG Life Sciences Ltd. has signed a Share Subscription and Shareholders' Agreement with Sunpound Solar Private Limited to invest up to Rs. 1.10 crores for acquiring 26% of the issued and paid up equity share capital. Sunpound is a special purpose vehicle solely for the construction, operation, and maintenance of a captive generating power plant and does not fall under related party transactions. The investment is being made for power generation purposes as per regulatory requirements.
Key Highlights
- RPG Life Sciences invests in Sunpound Solar Private Limited
- Acquisition of 26% equity share capital for up to Rs. 1.10 crores
- Sunpound is a special purpose vehicle in the solar power industry
- Investment is not a related party transaction
- Fulfillment of regulatory requirements for power generation