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03Apr 25
Alivus Life Sciences to Acquire 9.21% Stake in Torrent Urja 19 for ₹156 Crore
Alivus Life Sciences Limited is acquiring a 9.21% stake in Torrent Urja 19 Private Limited for ₹156 crore. This strategic investment aims to increase renewable power usage in Alivus' operations, aligning with its goal to become carbon neutral by 2030. The acquisition will also help Alivus comply with Indian electricity laws for captive power users. The transaction involves equity shares at face value and is expected to complete within 6 months. Alivus has signed a Share Purchase cum Subscription Shareholders' Agreement and a Power Supply Agreement with Torrent Urja 19.