Dalmia Bharat Limited has announced the acquisition of Kilavikulam Rajalakshmi Solar Power Developer Private Limited to strengthen its renewable energy portfolio and secure captive power supply.
The solar power generated will qualify under captive consumer regulations as per the Electricity Act/Rules. The transaction is structured as a cash consideration of Rs 30 million for 3 million equity shares at a face value of Rs 10 each. Dalmia Bharat Limited will hold a 34.52 per cent equity stake in the entity.