Home >News >India >Aurobindo Pharma acquire 26% stake each in 2 solar power firms

NEW DELHI : Aurobindo Pharma on Tuesday said it has inked a pact to acquire 26% stake each in two Hyderabad-based solar power generating companies.

The drug firm has entered into binding agreements to invest 5.38 crore each in NVNR (Ramannapet I) Power Plant Pvt Ltd and NVNR (Ramannapet II) Power Plant Pvt Ltd, aggregating to 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.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Edit Profile
My ReadsRedeem a Gift CardLogout