Power Sector

As part of its net zero promises, Indus Towers Ltd (ITL) plans to gradually increase its renewable energy portfolio to Giga Watt (GW) scale capacity.

According to the order, the business will offer equipment as well as some additional services.

The arrangement, sanctioned and issued as a 20-year rupee term loan, provides considerable commercial benefits.

According to the statement, the acquirers plan to subscribe for class B compulsorily convertible preference shares.

IREDA is a multi-bagger company, gaining 177% since its IPO at a listing price of ₹50 per share.

Presently, the business has a total installed generation capacity of 7.2 GW, including 1.6 GW allocated to wind energy.

The company said that the Project will be commissioned within 18 months of signing the PPA (power purchase agreement).

Last week, the business was awarded a wind-solar power project from Gujarat Urja Vikas Nigam Limited.

The OFS will be available for subscription to institutional investors on Friday, non-retail investors on Thursday, and retail investors on March 11, according to a stock market filing.

At 14:07 am, BHEL was up 13.5% over the previous close on the NSE, trading at ₹267.70.