Vodafone Idea to Invest in Special Purpose Vehicle for Captive Power Plant

Vodafone Idea Ltd. has approved an investment of up to Rs. 4.33 Crore in a special purpose vehicle (SPV) to be incorporated by Shree MTK Textile Private Limited. The SPV will be established for the purpose of owning and operating a captive power plant, in compliance with regulatory requirements for captive power consumption under electricity laws. The Company will acquire 26% equity stake in the SPV. No governmental or regulatory approval is required for this acquisition. The SPV will be incorporated in the renewable energy sector, with the objective of establishing, implementing and operating renewable electricity generating power stations.