Haldyn Glass associate acquires 1.39% stake in Jamnagar Renewables Two for ₹3.74 Cr
Haldyn Heinz Fine Glass, an associate of Haldyn Glass Ltd, is acquiring a 1.39% stake in Jamnagar Renewables Two Private Limited for ₹3.74 crore. The deal involves buying 37.41 lakh shares at ₹10 each to secure renewable power under a captive generation scheme. The transaction, expected to conclude by August 2026, is not a related party transaction and requires no specific regulatory approvals.
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Haldyn Heinz Fine Glass Private Limited, an associate of Haldyn Glass Ltd , has executed a Share Purchase & Shareholder's Agreement to acquire a 1.39% stake in Jamnagar Renewables Two Private Limited for ₹3.74 crore. The strategic acquisition is intended to facilitate the procurement of renewable power under a captive generation scheme, supporting the associate's energy requirements. The target entity is engaged in the business of generating electricity from renewable energy sources.
The transaction involves the purchase of 37,41,500 equity shares, each with a face value of ₹10, at an issue price of ₹10 per share. Jamnagar Renewables Two Private Limited is a subsidiary of Continuum Green Energy Limited and was incorporated on May 14, 2024. The company reported a turnover of ₹31.79 crore for FY 2025-26, compared to nil in the two preceding years.
The acquisition is not classified as a related party transaction, and no promoter or promoter group entities hold an interest in the target company. The deal is structured as a cash consideration and is slated for completion by the end of August 2026, subject to regulatory compliances. No specific governmental or regulatory approvals are required for this acquisition.
Jamnagar Renewables Two Private Limited operates within the power sector, specifically focusing on renewable energy. The electricity generated by the entity will be sold under a captive scheme as per the Power Consumption Agreement. The existing paid-up capital of the target company stands at ₹80.10 crore.
Transaction Details
| Particulars | Details |
|---|---|
| Target Entity | Jamnagar Renewables Two Private Limited |
| Stake Acquired | 1.39% of total paid equity share capital |
| Shares Acquired | 37,41,500 equity shares |
| Cost of Acquisition | ₹3.74 crore |
| Issue Price | ₹10 per equity share |
| Completion Timeline | End of August 2026 |
| Consideration Type | Cash |
Historical Stock Returns for Haldyn Glass
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.67% | +0.38% | -4.63% | +32.69% | +32.69% | +32.69% |
How will this captive power arrangement impact Haldyn Glass's operational costs and energy security over the long term?
Does Haldyn Glass plan to increase its stake in Jamnagar Renewables Two to secure a larger share of the generated power?
What are the specific capacity targets and commissioning timelines for the renewable energy projects under development?
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