Desco Infratech has executed a Memorandum of Understanding (MoU) with Shri Green Agro Energies (SGAEPL) for the proposed acquisition of 75% equity shareholding in SGAEPL through subscription to Fully paid-up equity shares and for the development, construction, operation, and maintenance of the Project in with Desco Infratech acting as the lead partner and acquiring a majority stake in SGAEPL.
In this regard, the company shall enter into a Share Application/ Subscription Agreement (SAA) for the subscription and acquisition of 75% equity shareholding of Shri Green Agro Energies (SGAEPL), in accordance with the terms of the Memorandum of Understanding. The said equity shall be subscribed through issuance of Fully paid-up equity shares by SGAEPL to Desco Infratech.
The objective of the acquisition is to acquire 75% ownership in SGAEPL; act as a strategic investor and lead the development, construction, financing, operation, and maintenance of a CBG Project; and expand the company’s footprint in the renewable energy and green fuel sector. This acquisition aligns with the company’s strategy to diversify into sustainable infrastructure and energy projects.
Desco Infratech is mainly engaged in providing infrastructure and maintenance services to city gas distribution divisions in India.
