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(08 Nov 2024, 19:08)

HeidelbergCement India invests further Rs 6.34 cr in a renewable energy company

HeidelbergCement India had entered into a Share Purchase and Shareholders' Agreement with Continuum MP Windfarm Development (Target Company) and Continuum Green Energy (Promoter of the Target Company) on 08 November 2024 to acquire/purchase 63,77,800 number of fully paid-up equity shares / optionally convertible debentures / compulsorily convertible debentures of face value of Rs. 10/- each for cash at par of the Target Company, by making an investment aggregating to Rs 6.34 crore to source hybrid (wind-solar) power as a captive consumer for a capacity of up to 5.5 MW for its plants situated at Damoh. Therefore, the total cumulative investment of the Company now amounts to Rs 15.62 crore, equivalent to 3.51% of the fully diluted equity share capital of the Target Company.
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