Rajshree Polypack Limited completes investment in Power Producer for renewable energy sourcing
Rajshree Polypack Limited has completed an investment into Jamnagar Renewables Two Private Limited, securing a stake in the power producer through a share acquisition. The move is aimed at fulfilling captive power plant requirements under applicable electricity laws.The company remitted an aggregate consideration of Rs 2,02,52,100 towards acquiring equity shares in Jamnagar Renewables Two Private Limited. This transaction provides Rajshree Polypack with a 0.7599% stake in the Power Producer following the completion of the share purchase and definitive agreements.
The acquisition involves the transfer of 20,25,210 equity shares to Rajshree Polypack from Continuum Green Energy Limited. The transaction is noted as an arm's length deal and is intended to help secure captive power procurement benefits in compliance with relevant electricity laws and regulations.
Key details of the investment are summarized below:
| Particulars | Details |
|---|---|
| Investee | Jamnagar Renewables Two Private Limited (Power Producer) |
| Acquired Stake | 0.7599% |
| Shares Acquired | 20,25,210 equity shares |
| Investment Amount | Rs 2,02,52,100/- |
| Nature of Transaction | Share Purchase Agreement (SPA/SHA) |
| Purpose | Facilitating captive power plant requirements |
RPPL Stock Price Movement
Rajshree Polypack Limited shares surged on Tuesday, closing at ₹21.55 after gaining 5.82% in a strong trading session. The stock moved within an intraday band ranging from a low of ₹20.14 to a high of ₹22.43, recording a volume of 666,454 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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