Lupin to Acquire Up To 42.6% Stake in Renewable Energy Company For INR106 Million
Indian pharmaceutical company Lupin (NSE:LUPIN, BOM:500257) has agreed to acquire an up to 42.61% stake in renewable energy firm Sunsure Solarpark Seventeen for up to 105.53 million Indian rupees, according to a Wednesday filing to the stock exchanges.
Sunsure Solarpark Seventeen is a subsidiary of Sunsure Solarpark, which is in the process of setting up a solar power plant.
The acquisition will enable Lupin to purchase renewable power through open access for its manufacturing site in Tarapur, India.
The transaction is expected to be completed in two tranches within six months.
Price (INR): â¹2244.95, Change: â¹+36, Percent Change: +1.61%
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