Syngene International Limited has increased its stake from 26 per cent to 33.79 per cent in O2 Renewable Energy Private Limited II to enhance renewable energy consumption and maintain captive power status.
The investment pertains to O2’s 201.2 MW wind-solar hybrid power plant located at Kudligi Taluk, Bellary District, Karnataka. The transaction involves a cash consideration of Rs 65 million through subscription of equity shares and compulsory convertible debentures.