Haldyn Associate Company Acquires 1.39% Stake in Renewables Target for Power Procurement
Haldyn Heinz Fine Glass Private Limited, an Associate Company of Haldyn Glass Limited, has entered into a Share Purchase and Shareholder's Agreement with Jamnagar Renewables Two Private Limited and Continuum Green Energy Limited. Through this agreement, the company acquired a 1.39% stake in Jamnagar Renewables Two Private Limited.Jamnagar Renewables Two Private Limited is a company specializing in the generation of electricity from renewable energy sources, falling within the Power Sector. The acquisition by Haldyn Heinz Fine Glass Private Limited is aimed at the procurement of Renewable Power under a Captive generation scheme.
The target entity, Jamnagar Renewables Two Private Limited, was incorporated on May 14, 2024, and is a subsidiary of Continuum Green Energy Limited. The company's current paid-up capital stands at Rs. 80.10 crores. Financial details for the target include a turnover of Rs. 31.79 Crores for FY 2025-26, with Nil turnover reported in the preceding two years.
The transaction details of the share acquisition are as follows:
| Particular | Detail |
|---|---|
| Target Entity Business | Generation of electricity from renewable energy sources |
| Acquisition Type | Share purchase for Cash consideration |
| Stake Acquired | 1.39% of total paid equity share capital |
| Shares Acquired | 37,41,500 equity shares (Face value: Rs. 10; Issue price: Rs. 10) |
| Total Cost of Acquisition | Rs. 3.74 crores |
The acquisition is expected to be completed by the end of August 2026, subject to regulatory compliances. The generated electricity from Jamnagar Renewables Two Private Limited will be sold under a Captive Scheme as per a Power Consumption Agreement entered into between the parties.
HALDYNGL Stock Price Movement
Haldyn Glass Limited shares slipped today by 0.81% to settle at ₹118.16, after dropping ₹0.96 from previous closing levels. The equity traded within a range of ₹117 and ₹121.1 during the session, with 20,586 shares changing hands.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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