Acquisitions24 Aug 2024, 01:16 am
Wheels India Ltd to Acquire 45.06% Stake in Renewable Energy Firm O2 Renewable Energy XXVI for Rs. 2.52 Crores
AI Summary
Wheels India Ltd has announced its decision to acquire a 45.06% stake in Mls. O2 Renewable Energy XXVI Private Limited, a renewable power generating company based in Maharashtra, India. The company aims to optimize the consumption of renewable energy and procure renewable power under the captive generation scheme. The total cost of acquisition is Rs. 2.52 crores for 25,20,000 equity shares having a face value of Rs. 10 each. O2 Renewable Energy XXVI Private Limited, incorporated on February 28, 2024, is engaged in generating, producing, and distributing renewable energy under the captive power consumption scheme in the State of Maharashtra.
Key Highlights
- Wheels India Ltd to acquire 45.06% stake in O2 Renewable Energy XXVI Private Limited.
- Total cost of acquisition is Rs. 2.52 crores for 25,20,000 equity shares.
- O2 Renewable Energy XXVI Private Limited generates, produces, and distributes renewable energy under the captive power consumption scheme.
- The acquisition is expected to be completed by the mid of September 2024.
- O2 Renewable Energy XXVI Private Limited is a wholly owned subsidiary of M/s. 02 Energy SG PTE Ltd.