Cosmo First Ltd. saw a rise in shares on Thursday following its acquisition of a minority stake in O2 Renewable Energy XV Pvt. The company entered into a security subscription and shareholders’ agreement to purchase a 26% stake in the special purpose vehicle (SPV) for Rs 17.85 crore. The transaction was disclosed in an exchange filing.
The acquisition enables Cosmo First Ltd. to procure solar power for its plants located in Aurangabad, operating under a group captive consumer model. This move aligns with the company’s commitment to sustainable energy sources.
Cosmo First Ltd. saw a rise in shares on Thursday following its acquisition of a minority stake in O2 Renewable Energy XV Pvt. The company entered into a security subscription and shareholders’ agreement to purchase a 26% stake in the special purpose vehicle (SPV) for Rs 17.85 crore. The transaction was disclosed in an exchange filing.
The acquisition enables Cosmo First Ltd. to procure solar power for its plants located in Aurangabad, operating under a group captive consumer model. This move aligns with the company’s commitment to sustainable energy sources.
