Jubilant Ingrevia Limited to acquire stake in company implementing solar power plant

Jubilant Ingrevia Limited has entered into Share Purchase, Subscription and Shareholder's Agreement with AMP Energy C&I Private Limited and AMP Energy Green Fifteen Private Limited for acquisition of 26.60% stake of AMP Energy Green Fifteen Private Limited for putting up the solar power plant with capacity of 15.5 MW under Captive Scheme.

AMP Energy Green Fifteen Private Limited ('AMP'), which was incorporated on September 4, 2020 in India and is a step down subsidiary of AMP Energy India Private Limited ("AMP Energy"). AMP is incorporated for the purpose of setting up a solar power project in Maharashtra, in terms of the regulatory requirement for captive power consumption under electricity laws. AMP Energy is engaged in the business of developing, owning and operating renewable energy infrastructure for supplying electrical power generated using solar energy and other sources of renewable energy to commercial, industrial and utility customers.

The aggregate consideration for acquisition of shares and CCDs shall be approximately Rs. 5,11,50,000.

Shares of Jubilant Ingrevia Limited was last trading in BSE at Rs. 769.95 as compared to the previous close of Rs. 772.15. The total number of shares traded during the day was 86743 in over 4013 trades.

The stock hit an intraday high of Rs. 784.55 and intraday low of 765.00. The net turnover during the day was Rs. 67023149.00.

Shares of Jubilant Ingrevia Limited was last trading in NSE at Rs. 770.30 as compared to the previous close of Rs. 772.15. The total number of shares traded during the day was 780098 in over 37873 trades.

The stock hit an intraday high of Rs. 784.95 and intraday low of 765.75. The total traded value during the day was Rs. 602911107.60.

Source : Equity Bulls

Keywords

JubilantIngrevia INE0BY001018 JUBLINGREA SpecialtyChemicals StakeAcquisition SolarPowerPlant