Arvind Ltd has announced that the company has acquired 31.20% stake in Renew Green (GJ Eight) Pvt Ltd for ₹204.96 mln in order to comply with regulatory requirement for being a captive user under electricity laws,via an exchange filing.
The acquisition is for the purpose of setting up a wind-solar hybrid power project at Bhavnagar, Gujarat.
Renew Green Energy Solutions Pvt Ltd. founded and actively promotes the renewable energy company Renew Green (GJ Eight).
Shares of Arvind Ltd were up 0.5% at 85.20 rupees at 12:00 IST, on NSE.
