Minda Industries Limited announced the acquisition of 28.10% stake in Strongsun Renewables Private Limited, the Special Purpose Vehicle (The SPV) Company.
As per the company’s exchange filing, “it is informed that the Investment Committee of the Board of the Company at its meeting held on 22 October, 2021 has approved the second tranche of Investment in equity shares of Strongsun Renewables Private Limited, the Special Purpose Vehicle (“The SPV”) Company.”
With the aforesaid acquisition of shares, the Company, Minda Industries Ltd. holds 28.10% stake of total paid-up share capital of the SPV. The aforesaid acquisition of the shares is for availing solar power for its manufacturing units situated at Maharashtra, the company said.
Strongsun Renewables Private Limited is engaged in the business of providing solar power solutions comprising of consulting, design, engineering, fabrication, installation, commissioning and monitoring of distributed rooftop solar power plants primarily for captive consumption of commercial and industrial customers in India.
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