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Sahyadri Industries gets nod to acquire 26% stake in Emerge Solar One

09 Nov 2024 Evaluate

Sahyadri Industries’ board has approved the proposal to acquire 26% of equity of Emerge Solar One (SPV) and also given their approval to enter into a Power Purchase Agreement with the SPV for purchase of solar power under a group captive scheme as per the Electricity Act, 2003 and applicable rules thereunder. The company signed the Power Purchase Agreement with Emerge Solar One on November 8, 2024. The Board has also granted the approval to execute a Share Subscription and Shareholders' Agreement (SSSHA) with SPV and Shimato Enterprises.

The main object for company in undertaking this acquisition is the purchase of solar power from ESOPL under the group captive scheme as per the Electricity Act, 2003 and applicable rules thereunder. Cost of acquisition is Rs 1.28 crore. The said acquisition is expected to be completed on or before 6 months. The Board of Directors of the company at its meeting held on November 8, 2024, has approved the same.  

Sahyadri Industries is engaged in the manufacture of corrugated sheets required for roofing purpose and also the various accessories required for roofing purpose.


Sahyadri Industries Share Price

244.50 -0.50 (-0.20%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
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