TVS Srichakra acquires minor stake in Navia Two Power

Industry: Power    5 days ago

TVS Srichakra has acquired 5,915 equity shares of Rs 10 each, representing 5.92% of the equity share capital of Navia Two Power (Navia), for a total consideration of Rs. 59,150/- for purchase of renewable energy under the Group Captive mode.

Navia 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.

Source: Business-Standard