Maksym Kozlenko, CC BY-SA 3.0, via Wikimedia Commons
Vodafone Idea Limited has officially commenced the acquisition process outlined earlier this year, announcing the completion of the first tranche of its proposed investment in Aditya Birla Renewables SPV 3 Limited.
The move is strategically aimed at securing cost-effective renewable energy and ensuring compliance with established regulatory mandates for captive power generation.
In a disclosure filed under Regulation 30 of the SEBI Listing Regulations, Vodafone Idea informed the stock exchanges that it has invested Rs. 26,000/- in the equity share capital of ABRen SPV 3.
This initial cash consideration resulted in the acquisition of 2,600 equity shares of Rs. 10/- each, securing a 26% equity stake in the target entity.
This first tranche of investment is part of a larger proposed acquisition previously intimated on 12 August 2025, which involves a total investment of Rs. 1.56 Crore.
According to the disclosure, the remaining tranches of the acquisition are anticipated to be completed over a period of approximately four to six months.
ABRen SPV 3 is a step-down subsidiary of Grasim Industries Limited, a Promoter of Vodafone Idea Limited.
The acquisition, which falls under the purview of Related Party Transactions, has received the necessary approvals from the Audit Committee and the Board and is confirmed to be conducted at “arm’s length”.
The rationale behind the investment is twofold: the transaction is necessary to comply with regulatory requirements for captive power plants under the provisions of the Electricity Act, 2003, and the Indian Electricity Rules, 2005, and to facilitate the procurement of cost-effective renewable energy.
ABRen SPV 3 operates in the Renewable energy industry. Formed on 21 November 2024, the entity is a subsidiary of Aditya Birla Renewables Limited. While it currently has Nil turnover, its primary business objective is to generate and supply power through solar and wind energy, and it is actively in the process of setting up a Captive Solar Power Plant in Maharashtra.
Vodafone Idea Compliance:
Signed by Pankaj Kapdeo, Company Secretary. Under Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
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