November 10, 2022
The National Stock Exchange Limited, | The BSE Limited, |
Exchange Plaza, | Corporate Relationship Department, |
Bandra-Kurla Complex, | P. J. Towers, |
Bandra (E), | Dalal Street, Fort |
Mumbai - 400 051 | Mumbai - 400 023 |
Code : PRSMJOHNSN | Code : 500338 |
Dear Sirs,
Re: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015
Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors of the Company at its meeting held today, has approved an investment not exceeding ₹ 25.20 Crores, in one or more tranches, to acquire equity shareholding of up to 45% in Renew Green (MPR Two) Private Limited, a Special Purpose Vehicle incorporated by ReNew Green Energy Solutions Private Limited for setting up captive wind power project aggregating to 24 MW for supply to the cement plant of the Company at Satna, Madhya Pradesh.
The details required under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 are given as an annexure.
We request you to kindly note and take the above information on record.
Thanking you,
Yours faithfully,
for PRISM JOHNSON LIMITED
ANEETA SUHAS Digitally signed by
ANEETA SUHAS
KULKARNI KULKARNI
ANEETA S. KULKARNI
COMPANY SECRETARY
Annexure
a) | Name of the target entity, details in | : | Renew Green (MPR Two) Private Limited. |
brief such as size, turnover, etc. | |||
b) | (i) Whether the acquisition would fall | : | (i) The proposed acquisition does not fall |
within related party related party | within related party transactions. | ||
transaction(s) | |||
(ii) Whether the promoter/promoter | (ii) The promoter/promoter group have no | ||
group/group companies have any | interest in the entity being proposed for | ||
interest in the entity being | acquisition. | ||
acquired? | |||
(iii) N. A. | |||
(iii) If yes, nature of interest and | |||
details thereof and whether the | |||
same is done at "arm's length" | |||
c) | Industry to which the entity being | : | Wind Power |
acquired belongs | |||
d) | Objects and effects of acquisition | : | To reduce overall cost of production by |
setting up captive wind power project | |||
e) | Brief details of any governmental or | : | N. A. |
regulatory approvals required for the | |||
acquisition | |||
f) | Indicative time period | : | By December 2023 |
g) | Nature of consideration | : | Cash consideration |
h) | Proposed cost of acquisition | : | ₹ 25.20 Crores |
i) | Percentage of shareholding proposed | : | 45% of equity shareholding |
to be acquired | |||
j) | Brief background about the entity | : | Renew Green (MPR Two) Private Limited |
is an SPV incorporated in April 2022 by | |||
ReNew Green Energy Solutions Private | |||
Limited for development of a 24 MW | |||
captive wind power project at Runija, Dhar | |||
District, Madhya Pradesh. |
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Prism Johnson Ltd. published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 07:16:06 UTC.