💡 Company acquiring 6.1% stake in renewable energy SPV to secure long-term power at competitive rates, reducing operational costs.
What Happened
Nandan Denim Limited's Board of Directors has approved the acquisition of a 6.1% equity stake in Opera Vayu (Narmada) Private Limited, a special purpose vehicle (SPV) for renewable energy. The company will invest ₹4,00,20,960 to purchase 40,02,096 equity shares in the SPV, which operates a wind and solar hybrid power plant in Gujarat.
Key Details
- Company: Nandan Denim Limited
- Event Type: M&A
- Filing Date: 17-Apr-2026 19:21:14
- NSE Filing: View Document
Why It Matters
This strategic acquisition enables Nandan Denim to secure 4.3 MW of renewable power from a 23.1 MW wind and 25 MW DC solar hybrid plant through the captive power route. The company will receive wind and solar power at competitive market rates for 25 years, which is expected to reduce its power costs at the Bareja plant. This move aligns with the company's goal of increasing renewable energy sourcing to improve operational efficiency and reduce environmental impact. The transaction is expected to be completed by June 30, 2026.
Disclaimer: This is publicly available information sourced from NSE. Not investment advice.
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