Hindalco Industries Limited, the metals flagship company of the Aditya Birla Group, has acquired a 26 per cent stake in the equity share capital of Ayana Renewable Power Four Private Limited (ARPFPL).
The acquisition, valued at Rs 16,250,000, involves the purchase of 1,625,000 equity shares at par, each valued at Rs 10. The primary objective behind this move is to facilitate the development and operation of a captive power generation plant. The plant aims to supply 100 MW of round-the-clock renewable energy to Hindalco’s smelter situated in Odisha.