UFLEX Ltd to acquire stake in Onevolt Energy Pvt Ltd

UFLEX Ltd has entered into Power Purchase Agreement and Share Subscription and Shareholders' Agreement for acquisition of 5.03% equity shares aggregating to Rs. 9.60 Crores in Onevolt Energy Private Limited ("Onevolt Energy"). This investment is intended for the purpose of sourcing of solar power on long term basis under group captive power policy.

The Company is in the business of setting up, generation and distribution of power from Solar Power Plants in India. Date of Incorporation 20-04-2020 Country of Incorporation- India The Company does not have any turnover, except other income of Rs. 58,61,000 as per last audited Special purpose financial balance sheet as on 31.03.2023.

Shares of UFLEX Limited was last trading in BSE at Rs. 417.95 as compared to the previous close of Rs. 405.70. The total number of shares traded during the day was 6432 in over 546 trades.

The stock hit an intraday high of Rs. 420.15 and intraday low of 400.00. The net turnover during the day was Rs. 2651373.00.

Source : Equity Bulls

Keywords

UFLEX INE516A01017 StakeAcquisition OnevoltEnergy