AIA Engineering Limited to invest in hybrid power project in Gujarat

AIA Engineering Limited has executed Share Purchase Agreement with Clean Max Enviro Energy Solutions Private Limited ("Promoter Shareholder") and Clean Max Meridius Private Limited ("CMPL") to acquire / subscribe 2,600 Equity Shares of Rs. 10 of CMPL for setting up a captive Hybrid (Solar & Wind) Power Project in Gujarat.

The Company will also sign and execute Energy Supply Agreement with Clean Max Meridius Private Limited for supplying contracted Hybrid (Solar & Wind) Energy to the Company as a Captive User.

Pursuant to the above acquisition / subscription of shares, CMPL will become an Associate of the Company.

Shares of AIA Engineering Limited was last trading in BSE at Rs. 2710.00 as compared to the previous close of Rs. 2743.85. The total number of shares traded during the day was 598 in over 296 trades.

The stock hit an intraday high of Rs. 2757.85 and intraday low of 2700.00. The net turnover during the day was Rs. 1632497.00.

Source : Equity Bulls

Keywords

AIAEngineering INE212H01026 Investment HybridPowerProject