Kalyani Steels has completed the acquisition of an equity stake in Clean Renewable Energy KK 1A Private Limited, a special purpose vehicle of Hero Rooftop Energy Private Limited, the company informed stock exchanges on December 30.
In a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, Kalyani Steels said it has acquired 18,57,223 equity shares of Clean Renewable Energy KK 1A. The shares have a face value of Rs 10 each and were acquired at a premium of Rs 17.94 per share.
The transaction represents 8.64% of the paid-up equity share capital of Clean Renewable Energy KK 1A Private Limited. The company clarified that the acquisition follows its earlier disclosure made on December 25 regarding the proposed transaction and confirms that the process has now been completed.
Clean Renewable Energy KK 1A is an SPV under Hero Rooftop Energy Private Limited and is engaged in the renewable energy segment. Kalyani Steels did not disclose additional financial details or future plans related to the investment in the filing.
The update was formally communicated to both BSE and National Stock Exchange of Indiawith Kalyani Steels reiterating compliance with applicable disclosure norms.
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