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Aditya Birla Nuvo to foray into Solar Power business

10 Jul 2015 Evaluate

Aditya Birla Nuvo (ABNL) will make a foray into solar power business and would participate in auction of such projects in Telangana. The board of the company has also approved participation in the upcoming bidding process for solar power projects in the state of Telangana.

With the renewed focus of the Indian Government on clean energy and in line with the vision of the Company to invest in the promising sectors, the Company has decided to foray in to the Solar Power business. The Board has authorized and approved the formation of special purpose vehicles (SPVs) / Subsidiaries by the Company and will evaluate induction of Investors in the SPVs / Subsidiaries, if required.

Aditya Birla Nuvo is a $4.5 billion conglomerate by revenue size. The company, part of Aditya Birla Group, is present across financial Services, telecom, fashion & lifestyle, IT-ITeS and manufacturing businesses.

Peers
Company Name CMP
Grasim Industries 2777.75
DCM Shriram 1200.00
3M India 31548.55
Hindustan Foods 496.85
Balmer Lawrie & Co 177.65
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