<h1>Haldyn Glass Ltd Acquires Additional Stake in Jamnagar Renewables Two for Renewable Power Procurement</h1>
Haldyn Glass Ltd has undertaken a strategic investment by acquiring an additional stake in Jamnagar Renewables Two Private Limited, spending Rs. 1.44 Crores. This acquisition is aimed at procuring renewable power under a Captive generation scheme.
The transaction involves the purchase of shares outright for cash consideration. Haldyn Glass Ltd acquired 14,40,817 equity shares in Jamnagar Renewables Two Private Limited. The total cost incurred for these shares was Rs. 1.44 crores.
Jamnagar Renewables Two Private Limited is a company focused on the generation of electricity from renewable energy sources and operates within the Power Sector of Renewable Energy. The acquired entity is currently a subsidiary of Continuum Green Energy Limited.
Details regarding the acquisition and the target entity are summarized below:
| Aspect | Details |
|---|---|
| Acquired Entity | Jamnagar Renewables Two Private Limited |
| Industry | Power Sector - Renewable Energy |
| Acquisition Objective | Procurement of Renewable Power under Captive generation scheme |
| Investment Type | Cash consideration for the acquisition of shares |
| Total Cost of Acquisition | Rs. 1.44 crores |
| Shares Acquired | 14,40,817 equity shares (Face Value: Rs. 10/- each; Issue Price: Rs. 10/– per share) |
Jamnagar Renewables Two Private Limited was incorporated on May 14, 2024, and is engaged in generating electricity from renewable energy sources. The generated power will be sold under the Captive Scheme as per a Power Consumption Agreement established with the company. As of the date of this report, the paid-up capital of Jamnagar Renewables Two Private Limited stands at Rs. 80.10 crores.
The indicative time period set for the completion of the acquisition is the end of June 2026. The transaction does not constitute a related party transaction, and there was no interest from the promoter or the promoter group in the acquired entity during this process.
HALDYNGL Stock Price Movement
On Thursday, Haldyn Glass Limited shares gained 0.5%, settling at ₹120.9 after trading finished for the day. The equity saw movement between a low of ₹117 and a high of ₹122.9 on a total traded volume of 15,998 shares.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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