Bharti Airtel Limited is one of India’s leading telecommunications companies and a global player, with operations spanning 18 countries across Asia and Africa. Headquartered in New Delhi, Bharti Airtel was established in 1995 and has since become synonymous with innovation and growth in the telecom sector.
Bharti Airtel Ltd. is set to acquire a 26% stake in Amp Energy Green Three Pvt. for nearly ₹38 crore, according to an exchange filing. The company has entered into an agreement for the acquisition of 3,78,90,005 equity shares, equating to a 26% stake in the special purpose vehicle (SPV).
The Bharti Group company clarified that the acquisition does not fall within the purview of “related-party transactions”. It further stated that it will acquire the equity shares, priced at ₹10 apiece, for a total consideration of ₹37.9 crore.
However, the completion of the acquisition is “subject to the receipt of all consents and permissions required to be obtained by AMP Energy Green Three from the regulatory authority for open access for captive consumption of electricity”.
AMP Energy Green Three is an SPV established by Amp Energy Green Pvt. for the development, construction, operation, and maintenance of a 50-MW hybrid wind-solar power plant in a village in Rajasthan’s Barmer district.
According to the telecom giant, this move will enable it to comply with regulatory requirements for captive power plants under the provisions of the Electricity Act, 2003, and the Indian Electricity Rules, 2005, while also ensuring the procurement of cost-effective renewable energy.
For Q2 FY25, the telecom company’s consolidated net profit declined by 12% sequentially, reporting a profit of ₹4,153 crore during the second quarter, compared to ₹4,159 crore in the preceding quarter.
At 2.10 PM on the NSE, Bharti Airtel’s share price was trading at ₹1,600.00.
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