Pudumjee Paper Products has executed a Shareholders' Agreement with Mitcon Solar Alliance for the acquisition of 49.99% equity shares of Mitcon Solar Alliance (a Special Purpose Vehicle).
The Mitcon Solar is engaged in the business of Solar Power Generation and Sale. The objective of the acquisition is to facilitate purchase of 'Power' and consequently the acquisition of shares will enable the company to meet its Renewable Purchase Obligation. The nature of consideration is in the form of cash.
Pudunjee Paper Products is engaged in manufacturing paper. The business that came to the company was started with the manufacture of high quality papers to meet customer’s critical and demanding requirement in packaging of food and oily products.
