Acquisitions16 Apr 2025, 11:43 pm
UltraTech Cement Ltd to Acquire 26% Stake in AMPIN C&I Power Eight Private Limited for Green Energy Needs and Cost Optimization
AI Summary
UltraTech Cement Ltd has entered into an Energy Supply Agreement and Share Subscription and Shareholders Agreement with AMPIN C&I Power Eight Private Limited. The agreement is for the acquisition of 26% equity shares of AMPIN C&I Power Eight Private Limited, a company engaged in generation and transmission of renewable energy. The acquisition is aimed at meeting the company’s green energy needs, optimizing energy cost, and complying with regulatory requirements for captive power consumption under electricity laws. The cost of acquisition is up to Rs. 25,50,00,000 (Rupees Twenty-Five Crore Fifty Lakhs Only).
Key Highlights
- UltraTech Cement to acquire 26% stake in AMPIN C&I Power Eight Private Limited
- Acquisition aimed at meeting green energy needs and optimizing energy cost
- Transaction value is up to Rs. 25,50,00,000
- AMPIN C&I Power Eight Private Limited is a special purpose vehicle for setting up a 75 MWp DC / 50 MW AC solar power project in Rajasthan
- Acquisition to help UltraTech Cement comply with regulatory requirements for captive power consumption under electricity laws