Vardhman Textiles announced that its Committee of Directors (Renewable Energy) has approved the acquisition of a 31.2% stake in Renew Green (MPR Four) Private Limited. The company executed a Share Subscription and Shareholders' Agreement along with a Captive Power Purchase Agreement with Renew Green Energy Solutions Private Limited and Renew Green (MPR Four) Private Limited.

Transaction Details

The acquisition involves a cash consideration of Rs. 24.29 crore for the 31.2% stake, while Renew Green Energy Solutions Private Limited will contribute Rs. 53.57 crore for the remaining 68.8% shareholding. The total capital of the special purpose vehicle will be approximately Rs. 77.86 crore. The equity contribution will be made in three tranches depending upon the completion of different stages of the project.

Project Overview

The purpose of the agreements is to establish a 19 MW AC wind-solar hybrid power plant at District Ratlam, Madhya Pradesh. The project comprises 26.4 MW wind capacity and 15 MW solar capacity. The power generated will be supplied exclusively to Vardhman Textiles Limited under the Captive Rules, and the plant will be operated by Renew Green (MPR Four) Private Limited.

Regulatory Compliance

The acquisition is being undertaken to comply with regulatory requirements for captive power consumption under India Electricity laws. The transaction does not fall within related party transactions and is conducted at arm's length. No governmental or regulatory approvals are required for the acquisition, and Vardhman Textiles Limited will not appoint any director on the board of the power producer.

Target Entity Profile

Renew Green (MPR Four) Private Limited is a Special Purpose Vehicle created under the captive scheme and incorporated under the Companies Act, 2013. The entity is engaged in developing and operating renewable energy projects and has not yet commenced commercial production or activities. The company was incorporated to facilitate the development of renewable energy infrastructure under captive power arrangements.

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Vardhman Textiles Limited has submitted detailed information regarding the dematerialization of 10,065 equity shares during March 2026, fulfilling regulatory requirements under SEBI's depository regulations.

Regulatory Compliance Filing

The company filed the mandatory certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 on April 8, 2026. Company Secretary Sanjay Gupta submitted the documentation to both BSE Limited and The National Stock Exchange of India Limited, providing comprehensive details of shares dematerialized during March 2026.

Dematerialization Breakdown

The dematerialization process was conducted through both major depositories in India. The detailed breakdown shows systematic processing throughout March 2026, with transactions ranging from 75 shares to 3,375 shares per certificate.

Certificate Processing Details

The company processed certificates with distinctive numbers ranging from smaller denominations to larger blocks. The largest single dematerialization involved 3,375 shares processed on March 19, 2026, while the smallest comprised 75 shares processed on March 31, 2026.

Compliance Confirmation

Sanjay Gupta, Company Secretary, certified that all 10,065 equity shares have been properly dematerialized after due verification of share certificates, including distinctive numbers and certificate numbers. Following dematerialization, all share certificates have been cancelled and substituted with the depository name as the registered owner in the company's records.

Regulatory Distribution

The comprehensive documentation was submitted to stock exchanges and relevant depositories, ensuring full regulatory compliance across all market infrastructure institutions for the dematerialization process completed during March 2026.