CIAN expands Infrastructure Division through Ideal Energy Projects Ltd

The CIAN Agro Industries & Infrastructure Ltd (CIAN) has acquired 100% stake in Manas Power Ventures Pvt Ltd (MPVPL) in September 2024 resulting MPVPL as Wholly Owned Subsidiary of CIAN. Consequent to this, Ideal Energy Projects Ltd (IEPL) being wholly owned subsidiary of MPVPL, has become Wholly Owned StepDown Subsidiary of CIAN.

The IEPL is engaged in the generation of electricity. The company has a set up of 270 MW Coal based thermal Power Project near Village Bela, Tehsil Umred, District Nagpur of Maharashtra State.

The CIAN has expanded its Infrastructure Division through Ideal Energy Projects Ltd (IEPL) as Wholly Owned Step-Down Subsidiary.

In an impressive display of energy production and efficiency, Ideal Energy Projects Ltd. (IEPL) has achieved its highest-ever power generation and export levels in the month of November. The company has achieved capacity utilisation of 88.03% and has featured in top 10 private Independent Power Plants (IPP's).The milestone marks a significant leap forward in the region's energy capacity and positions IEPL as a key player in the energy market.

This achievement underscores the continued growth and reliability of the region's energy infrastructure. This record-breaking performance reflects our commitment to sustainable growth and energy security. We are proud to contribute to meeting our country's increasing demand for energy while ensuring stability and sustainability in our operations.

Looking ahead, CIAN plans to continue achieving its energy production capacity, through IEPL to further boost its supply potential in the coming months.

Shares of CIAN Agro Industries & Infrastructure Ltd was last trading in BSE at Rs. 401.90 as compared to the previous close of Rs. 394.05. The total number of shares traded during the day was 1117 in over 17 trades.

The stock hit an intraday high of Rs. 401.90 and intraday low of 401.90. The net turnover during the day was Rs. 448922.00.

Source : Equity Bulls

Keywords

CIANAgroIndustriesandInfrastructure INE052V01019 Acquisition ManasPowerVentures