Pennar Industries to sell its stake in subsidiary Pennar Renewables
108
0
Pennar Industries has agreed to enter into an agreement to sell its stake in its subsidiary Pennar Renewables to Greenko Solar Energy. Once the sale of transaction completes, debt of the company reduces by around Rs. 101 crore from its consolidated Balance Sheet. The proceeds from the sale of transaction will be used by the company to expand its product base and addressable markets.
Source: business-standard
Related posts:
- Altus Power America Upsizes Capital by more than $200 million with Commitments from Goldman Sachs, Global Atlantic Financial Group and GSO Capital Partners (Blackstone’s credit business)
- NCLT allows CBIs insolvency plea against Moser Baer Solar
- Siemens Gamesa to expand further in India despite tender troubles: CEO Markus Tacke
- India: Solar analytics startup Prescinto raises $3.5m in seed funding