Investment22 Apr 2025, 07:12 pm
RSWM Ltd Completes Conditions Precedent for INR 250 Crore Investment in Bhilwara Energy Limited
AI Summary
RSWM Ltd announced the completion of all conditions precedent for an investment of approximately INR 250 crore by Singularity Growth Opportunities Fund II and its affiliates in Bhilwara Energy Limited (BEL). The investment, which is in consideration for subscription, allotment, and issuance of 1,75,95,979 equity shares of BEL at Rs. 142.08 per share, will result in the investors holding 9.6% of the paid-up share capital of BEL post-issuance. The board of directors of BEL has approved the allotment of the Subscription Shares to the investors, who have already paid ~INR 25 crore as share application money.
Key Highlights
- RSWM Ltd announces an investment of approximately INR 250 crore in Bhilwara Energy Limited by Singularity Growth Opportunities Fund II and its affiliates.
- The investment is in consideration for 1,75,95,979 equity shares of BEL at Rs. 142.08 per share.
- Post-issuance, the investors will hold 9.6% of the paid-up share capital of BEL.
- BEL's board of directors has approved the allotment of the Subscription Shares to the investors.
- The investors have already paid ~INR 25 crore as share application money.