Wednesday, February 19, 2025

Indus Towers share price jumps after acquiring 26% stake in renewable energy SPV

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Stock market today: Indus Towers shares gained over 2% in morning trade on Tuesday, February 4, after the company informed exchanges that it acquired a 26% stake in Amplus Tungabhadra Private Limited, a special purpose vehicle (SPV), for 27 crore.

“We wish to inform you that the Company has entered into an agreement for the acquisition of 26% of the equity share capital, on a fully diluted basis, in Amplus Tungabhadra Private Limited, a special purpose vehicle (‘SPV’), for the purpose of owning and operating a Captive Power Plant, in accordance with the regulatory requirement for captive power consumption under electricity laws,” the company said in an exchange filing today.

The company will consume 50 MW of renewable energy from the Solar PV power plant in compliance with regulatory requirements for captive power plants.

Established in October 2023, Amplus Tungabhadra Private Limited is engaged in the business of owning, establishing, constructing, operating, and maintaining necessary power stations, including renewable energy plants, and to generally generate and/or undertake captive generation, accumulate, bank, transform, distribute, transmit, trade, supply, and deal in electricity. Amplus Tungabhadra will be setting up a Solar PV captive plant of 50 MW, the exchange filing added.





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