Everest Industries Invests ₹1.76 Crore in Amplus SPV for Captive Solar Power

30 Aug 2025 , 07:14 PM

Everest Industries Ltd, a building solutions company, has invested ₹1.76 crore in Amplus Ampere Pvt Ltd, a special purpose vehicle (SPV) floated by Amplus Energy Solutions Pte Ltd. The company has picked up a 3.12% stake in Amplus Ampere, acquiring 17,60,000 equity shares at ₹10 each. The investment was completed on August 27, 2025.

Amplus Ampere has been formed to set up a 5.5 MWp solar power plant, from which Everest Industries will source energy for captive consumption under the group captive policy.  The company said the purpose of acquiring the shares is to secure open access to renewable energy and increase its solar energy usage in Maharashtra.

Amplus is engaged in setting up, generating, and distributing solar power across India. The entity was incorporated on March 26, 2021, and has reported nil turnover over the past three financial years.

Everest confirmed that the transaction does not fall under related party deals, as promoters and group companies have no interest in the entity. The acquisition was made through cash consideration, and no government or regulatory approvals were required for the transaction.

For feedback and suggestions, write to us at [e-mail]