Shyam Metalics and Energy has acquired 26% equity share capital in Emerge Green Power (EGPPL) and consequently become an Associate company of the Company. This acquisition involves allotment of 26,000 equity shares of Emerge Green Power to the company which resulted in holding of 26% Equity Shares in EGPPL. This strategic investment enables the Company to qualify as a captive user pursuant to the relevant provisions of the Electricity Act, 2003 and Rules made thereunder and to get the benefit of preferential tariff thereby reducing overall energy costs and utilising environment friendly renewable green and sustainable energy. The cost of acquisition is Rs 75 lakh.
The acquisition is expected to reduce the company's dependence on grid power and lower energy costs, contribute to environmental goals through increased usage of green power, improve EBITDA margins due to lower operational expenditure on power, and support compliance with regulatory norms and ESG frameworks.
Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys.
| Company Name | CMP |
|---|---|
| Tata Steel | 185.90 |
| JSW Steel | 1238.35 |
| Steel Authority | 163.05 |
| Jindal Stainless | 735.80 |
| APL Apollo Tubes | 1793.70 |
| View more.. | |
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