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Concord Biotech informs about share purchase agreement

16 Jan 2025 Evaluate
Pursuant to provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Concord Biotech has informed that Concord biotech (Company) has today i.e. on January 16, 2025, entered into a Share Purchase Agreement (SPA) with Clean Max Everglades (Clean Max) and Clean Max Enviro Energy Solutions (CMEESPL), whereby the Company will acquire 26% equity shares of Clean Max from CMEESPL. Investing in renewable energy aligns with the Company’s commitment to sustainability and its focused efforts to address environmental challenges. By transitioning to renewable energy sources, the company will reduce its carbon footprint, contributing to global efforts to combat climate change. Additionally, renewable energy offers long-term financial benefits, including reduction in energy costs. This strategic investment reinforces the Company’s commitment to environmental responsibility, ensuring compliance with evolving environmental regulations, and supporting sustainable growth while enhancing operational efficiency. In terms of the above referred provisions of the SEBI LODR Regulations, read with circular dated November 11, 2024 issued by the Securities and Exchange Board of India, bearing ref. no. SEBI/HO/CFD/PoD2/CIR/P/0155 (said SEBI Circular). This investment is intended for the purpose of developing a captive power generation facility for the Company, under the Group Captive Power policy. The requisite details, in terms of the provisions of Regulation 30 read with Schedule III of the SEBI LODR Regulations and the said SEBI circular, are included in Annexure A, enclosed herewith.

The above information is a part of company’s filings submitted to BSE.

Concord Biotech Share Price

1046.80 -20.60 (-1.93%)
21-Apr-2026 16:59 View Price Chart
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