Latest News | Aurobindo Pharma Invests in Two Solar Power Companies
Get latest articles and stories on Latest News at LatestLY. Aurobindo Pharma on Tuesday said it has inked a pact to acquire 26 per cent stake each in two Hyderabad-based solar power generating companies.
New Delhi, Feb 23 (PTI) Aurobindo Pharma on Tuesday said it has inked a pact to acquire 26 per cent stake each in two Hyderabad-based solar power generating companies.
The drug firm has entered into binding agreements to invest Rs 5.38 crore each in NVNR (Ramannapet I) Power Plant Pvt Ltd and NVNR (Ramannapet II) Power Plant Pvt Ltd, aggregating to Rs 10.76 crore, Aurobindo Pharma said in a regulatory filing.
The company has invested in the two firms to avail the benefit of captive consumption of solar power, it added.
"After making the said investments, the company will be holding 26 per cent of the share capital in each of the aforesaid solar power generating companies," Aurobindo Pharma noted.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)