Valiant Organics Ltd to Acquire 26.25% Stake in Pro-Zeal Green Power Eight Private Limited for Renewable Energy Projects

Valiant Organics Ltd has entered into a Share Subscription and Shareholders’ Agreement with Prozeal Green Power Private Limited and Pro-Zeal Green Power Eight Private Limited, a Special Purpose Vehicle formed for providing, developing, constructing, operating and maintaining renewable energy projects. The Company will subscribe 26.25% of the Equity Shares and Compulsory Convertible Debentures of SPV in a phased manner. The solar power generated by the SPV will be supplied to the Company for its captive consumption. The acquisition is in line with the Company’s commitment towards procuring power through renewable resources and optimizing energy costs. The acquisition cost is Rs. 2,90,40,000 and the entity is engaged in providing comprehensive services and solutions related to infrastructure development and engineering projects, with a focus on renewable energy.