Elgi Equipments has entered into a share purchase and shareholders agreement with First Energy for acquisition of 7.8% of paid up share capital in First Energy TN 1. The object of acquisition of 7.8% shares is to comply with the minimum shareholding requirement of 26% under the captive project rules along with other captive users.
Elgi Equipments is a holding company and an air compressor manufacturer. The company’s segments include Compressors, Automotive Equipments and Others.