Latest news with #SWEPL
Business Standard
16-05-2025
- Business
- Business Standard
Vodafone Idea acquires 26% stake in Sangli Wind Energy
Vodafone Idea has acquired 26% stake in the equity share capital of Sangli Wind Energy (SWEPL), today i.e. 16 May 2025 at a consideration of Rs. 31,20,000/-. SWEPL is special purpose vehicle for the purpose of owning and operating a Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws. Powered by Capital Market - Live News
Business Upturn
16-05-2025
- Business
- Business Upturn
Vodafone Idea acquires 26% stake in Sangli Wind Energy
Vodafone Idea Limited has recently informed exchanges that the company acquired a 26% equity stake in Sangli Wind Energy Private Limited (SWEPL) for a total consideration of ₹31.2 lakh. This investment, made through a cash transaction, marks a strategic step by Vodafone Idea to meet regulatory requirements for captive power consumption under Indian electricity laws. SWEPL, incorporated on August 28, 2024, is a special purpose vehicle set up to develop, own, and operate a wind-based Captive Power Plant located in Sangli, Maharashtra. The company currently has no turnover and holds a paid-up share capital of ₹88.8 lakh, divided into 8.88 lakh equity shares of ₹10 each. The acquisition involved the purchase of 3.12 lakh equity shares, giving Vodafone Idea a 26% ownership in SWEPL. This move aligns with Vodafone Idea's broader strategy of procuring cost-effective renewable energy and supporting sustainability goals. The acquisition does not constitute a related party transaction and does not require any regulatory approvals. With this stake, SWEPL is now classified as an associate company of Vodafone Idea Limited. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
