Century Enka has applied for an additional 66,89,800 equity shares by way of right issue of ABREL Century Energy (ABRELCEL), a Special Purpose Vehicle (‘SPV'). The 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.
