Grasim Industries Acquires 26% Stake in SPV for Renewable Energy Supply in Karnataka
Grasim Industries Limited announced that its Board of Directors approved the acquisition of a 26% equity stake in a Special Purpose Vehicle (SPV). This strategic acquisition targets the supply of renewable hybrid energy at Harihar, Karnataka, supporting the Group Captive Scheme.The details of the target entity reveal it is Ampin C&I Power Thirty Private Limited (SPV). The purpose of the acquisition is primarily focused on meeting green energy demands, optimizing energy costs, and ensuring compliance with regulatory requirements governing captive power consumption under electricity laws.
According to the board approval, the total investment required is structured as a cash consideration of up to Rs. 30.60 crore, to be executed in one or more tranches.
Key Transaction Details
The proposed acquisition is confirmed to be a transaction that does not fall under related party categories, with no interest held by the promoter or promoter group companies. The acquisition involves developing a captive wind-solar hybrid power generation facility.The operational and financial specifics of the transaction and the target entity are outlined below:
| Detail | Description | Value/Details |
|---|---|---|
| Target Entity | Name | Ampin C&I Power Thirty Private Limited (SPV) |
| Acquired Stake | Percentage | 26% Equity Stake |
| Consideration | Type | Cash Consideration |
| Investment Cost | Investment Range | Up to Rs. 30.60 crore |
| Capacity (Solar) | Solar/Wind | 37.95 MWp DC / 25.30 MW AC Solar |
| Capacity (Wind) | Solar/Wind | 27 MW AC Wind |
| Industry | Sector | Generation and transmission of renewable energy (hybrid) |
| Completion Timeline | Estimated Period | Within 180 days from the execution of agreements |
The SPV was incorporated on July 23, 2025, and its facilities are designed to provide power generation capacity utilizing both solar and wind energy sources. The transaction aims to optimize the energy supply chain for the group's captive power needs.
GRASIM Stock Price Movement
Today, Grasim Industries Limited shares gained 1.12% to settle at ₹2968, marking a strong rally after hitting its 52-week high of ₹3007.3. The stock maintained significant momentum, with an elevated total volume of 798,524 shares traded through the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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