Enviro Infra Engineers has completed the acquisition of EIE Renewables (Target Company). The company has initially invested Rs 10 lakh by acquiring 1,00,000 equity shares from the existing shareholders of the Target Company at a price of Rs 10 per share, thereby making the Target Company Wholly Owned Subsidiary of the company with effect from May 7, 2025. The company further invested Rs 49.90 crore, through fresh allotment by way of subscribing to 4,99,00,000 equity shares in the Target Company at a face value of Rs 10 per share on June 4, 2025.
The Target Company is incorporated for the purpose of undertaking the business of power generation through renewable sources. The said acquisition will enable the company to tap the opportunities prevailing in the renewable energy sector and aligns with the long-term vision of the company to expand into sustainable and future-oriented business segments.
Enviro Infra Engineers is engaged in designing, construction, operation and maintenance of water and wastewater treatment plants and water supply scheme projects for government authorities/bodies.
