Aarti Industries moves up on inking pact to acquire 26.25% stake in ProZeal Green Power Seven
Aarti Industries is currently trading at Rs. 424.90, up by 14.45 points or 3.52% from its previous closing of Rs. 410.45 on the BSE.
The scrip opened at Rs. 414.05 and has touched a high and low of Rs. 426.00 and Rs. 409.20 respectively. So far 51159 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 769.50 on 29-Apr-2024 and a 52 week low of Rs. 390.25 on 08-Jan-2025.
Last one week high and low of the scrip stood at Rs. 453.00 and Rs. 407.20 respectively. The current market cap of the company is Rs. 15298.34 crore.
The promoters holding in the company stood at 42.35%, while Institutions and Non-Institutions held 25.18% and 32.47% respectively.
Aarti Industries has entered into a Share Subscription and Shareholder’s Agreement with Prozeal Green Power and Pro-Zeal Green Power Seven. This transaction entails acquisition of 26.25% Equity Shares / Voting Rights and Compulsory Convertible Debentures by the company in ProZeal Green Power Seven- a Special Purpose Vehicle (SPV) formed for developing, constructing, operating and maintaining a 9.24 MW solar power plant exclusively to cater the company’s power requirement partly.
This is in line with the company’s commitment towards procuring power through renewable resources. The SPV will start generating Power from H2 / FY26 and support the company in reducing its power costs. The said acquisition is expected to be completed within 30 days from the execution of share subscription and shareholders’ agreement.
Aarti Industries is engaged in manufacturing and dealing in speciality chemicals and pharmaceuticals.
