Dalmia Cement Bharat Ltd to invest in Solarcraft Power India 23 Pvt Ltd

Dalmia Cement (Bharat) Limited ("DCBL"), wholly owned subsidiary of Dalmia Bharat Limited, has entered into Share Subscription Agreement ("SSA"), Share Holders Agreement ("SHA") and Power Purchase Agreement ("PPA") on June 8, 2024, to acquire 26% of equity share capital and 26% of compulsory convertible debentures of Solarcraft Power India 23 Private Limited to source solar power as a captive consumer for a capacity upto 46.88 MW located in the State of Karnataka.

The details of acquisition are as under:

(i) 1,03,17,500 equity shares aggregating to Rs. 10,31,75,000/- (Rupees Ten Crore Thirty-one Lacs Seventy-Five Thousand only), in one or more tranches; and

(ii) 84,37,500 compulsory convertible debentures aggregating to Rs. 8,43,75,000/- (Rupees Eight Crore Forty-three Lacs Seventy-five Thousand only), in one or more tranches. The transaction is subject to customary conditions precedents and expected to be completed within a period of 60 Days.

Shares of Dalmia Bharat Limited was last trading in BSE at Rs. 1809.85 as compared to the previous close of Rs. 1770.25. The total number of shares traded during the day was 15143 in over 1694 trades.

The stock hit an intraday high of Rs. 1828.20 and intraday low of 1758.45. The net turnover during the day was Rs. 27289742.00.

Source : Equity Bulls

Keywords

DalmiaBharat INE00R701025 DalmiaCementBharat Investment SolarcraftPowerIndis23