Aurobindo Pharma to invest Rs10.8cr in two Hyderabad-based solar power generating companies

Aurobindo will be holding 26% of the share capital in each of the solar power generating companies.

Feb 24, 2021 04:02 IST India Infoline News Service

Aurobindo Pharma has entered into binding agreements to invest Rs5.382cr each in NVNR (Ramannapet I) Power Plant Private Limited and NVNR (Ramannapet /I) Power Plant Private Limited, Hyderabad based solar power generating companies.

The total investment comes around Rs10.764cr. Aurobindo will subscribe additional equity shares and/or other &ecurities of the said solar power generating companies to avail the benefit of captive consumption of Solar Power.

On completion of the investment, Aurobindo will be holding 26% of the share capital in each of the aforesaid solar power generating companies.

At around 4.32 pm, Aurobindo was trading at Rs862.45 per piece up 0.75% on Sensex. 

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