Sundaram-Clayton Ltd Acquires 11.63% Stake in Navia Two Power Private Ltd for Rs. 1.16 Lakh

Sundaram-Clayton Ltd, a leading company in the automotive components industry, has announced the acquisition of 11.63% equity share capital of Navia Two Power Private Limited (Navia) for a total consideration of Rs. 1,16,280. Navia is a special-purpose vehicle for the purpose of owning and operating a Captive Power Plant. The acquisition is in line with the regulatory requirement for captive power consumption under electricity laws. Navia, a private limited company, was incorporated on 12 August 2024 and is engaged in the business of Electric power generation using other non-conventional sources and sale. However, it has yet to commence its operations. The acquisition was made in cash for Rs. 1.16 Lakh for the acquisition of 11,628 equity shares of Rs. 10 each.