Universal Cables has entered into a share purchase and shareholders agreement with Continuum MP Windfarm Development and Continuum Green Energy (India) (Promoter of the Continuum MP Windfarm Development) on July 27, 2023 to acquire/purchase 46,00,000 number of fully paid up Equity Shares / Optionally Convertible Debentures / Compulsorily Convertible Debentures of face value of Rs 10 each for cash at par of the Continuum MP Windfarm Development, by making an investment aggregating to Rs 4.60 crore.
The company intends to purchase 4.00 MW green energy from the Continuum MP Windfarm Development through Long Term Open Access (LTOA) / Medium Term Open Access (MTOA) as a captive user under the Intra-state group captive scheme.
Universal Cables is a leading manufacturer of cables of all kinds and has facility for production, quality control and testing.
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