Shares of Enviro Infra Engineers Ltd rose 3.5% to hit a day’s excessive of Rs 274 on twenty second August after the corporate introduced that its subsidiary, EIE Renewables Pvt Ltd, had acquired Vento Energy Infra Pvt Ltd from PTC India Monetary Providers Ltd for about Rs 115.6 crore in money.
Enviro Infra said that the acquisition was accomplished on twentieth August, granting it full possession of Vento Energy Infra, a renewable vitality developer.
Based in 2015, Vento Energy is constructing a 40 MW photo voltaic undertaking in Odisha’s Bolangir district with a tariff of Rs 4.1 per unit for 18 years. In FY24, it reported income of Rs 16.5 crore and a destructive web value of Rs 79.2 crore.
The corporate mentioned the deal helps its long-term plan to broaden into renewable and sustainable vitality. Deloitte suggested on the promote facet, whereas Saraf and Companions acted as authorized advisor.
At 12:55 PM, the shares of Enviro Infra had been buying and selling 3.18% larger at Rs 268 on NSE.
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