Aarti Pharmalabs has entered into a Share Subscription and Shareholder’s Agreement with Pro-zeal Green Power (Promoter Company), Special Purpose Vehicle (SPV) formed for developing, constructing, operating and maintaining a solar power plant, for acquisition of 26.25% of the Equity Shares/ Voting Rights of SPV and Compulsory Convertible Debentures.
To meet the green energy needs and optimise the energy costs, the company will acquire 26.25% equity stake in SPV as per Electricity Laws. The said acquisition is expected to be completed within 30 days from the execution of share subscription and shareholders’ agreement. Cost of acquisition is Rs 2.97 crore.
Aarti Pharmalabs (APL) (Formerly known as Aarti Organics) is a leading Indian manufacturer of Pharmaceuticals and Nutraceuticals with a global footprint.
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