Cosmo First has entered into ‘Security Subscription and Shareholders’ Agreement’ with Hexa Sunshine (SPV) and Hexa Sunshine’s holding company for acquisition of stake in the SPV. The acquisition is aimed at sourcing hybrid renewable power for the company’s plants situated at Gujrat on a Group Captive consumer basis. The company will acquire up to 26% stake in the SPV at a consideration of up to Rs 7 crore.
Cosmo First is a global leader in specialty films and an emerging player in speciality chemicals (Masterbatches, Adhesive, & Coating), Cosmo Plastech and Cosmo Sunshield, along with a digital-first Omni channel Pet care business under the brand name ‘Zigly’.
