Investment5 Sept 2025, 04:41 pm
Uno Minda Ltd to Invest in SPV for Solar Energy Sourcing
AI Summary
Uno Minda Ltd has approved an investment of up to Rs. 4.75 Crores in a Special Purpose Vehicle (SPV) for sourcing power through solar energy. The SPV, yet to be incorporated, will be engaged in setting up, generating, and distributing solar power from its power plants in India. The investment is expected to increase the company's utilization of renewable energy and contribute to its business. The acquisition is not a related party transaction and is expected to be completed by Q4 2025-26. The consideration will be in cash. Uno Minda Ltd will acquire up to 30% equity in the SPV.
Key Highlights
- Uno Minda Ltd to invest in a Special Purpose Vehicle for solar energy sourcing.
- The SPV is proposed to be incorporated and will be engaged in the renewable energy industry.
- The investment is expected to increase Uno Minda Ltd's utilization of renewable energy.
- The consideration will be in cash, with an indicative cost of up to Rs. 4.75 Crores.
- Uno Minda Ltd will acquire up to 30% equity in the SPV.