Century Enka to acquire additional shares of ABREL Century Energy

18 Aug 2022 Evaluate

Century Enka has applied for an additional 2155400 equity shares of ABREL Century Energy (ABRELCEL), a Special Purpose Vehicle (SPV) by way of right issue. The said acquisition is required to maintain minimum 26% of the equity shares of the Power Producer to qualify as a Captive User of the Power Producer as per the provisions of the Electricity Act, 2003 read with Electricity Rules, 2005.

ABRELCEL was incorporated on March 10, 2022 as a SPV for the purpose of setting up of captive power projects i.e., electric power generation through wind & solar.

Century Enka (CEL) has emerged a reputed producer of high quality Nylon Tyre Cord Fabric (NTCF) used as reinforcement material in bias tyres and Nylon Filament Yarn (NFY) used mainly by apparel industry.

Century Enka Share Price

402.00 1.20 (0.30%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
PDS 475.00
Vardhman Textiles 445.00
Arvind 269.20
Welspun Living 137.65
Alok Inds 25.75
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