Foreign portfolio investors increased stake in One97 Communications, parent company of Paytm, by over 2 percentage points to 20.64 per cent in the March 2024 quarter.
The objective of the investment in the SPV is to promote renewable energy on long term basis by qualifying as a captive consumer for solar capacity of 14.85 MWp for its factory situated in Haryana.
Shares of Exide Industries Ltd surged in early trade today after the automotive battery manufacturer said it inked an agreement to buy a 26 percent equity stake in Clean Max Arcadia, a special purpose vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions, for the generation and supply of solar power. Exide Industries has agreed to invest Rs. 5,34,59,929 or Rs 5.34 crore in Clean Max Arcadia.
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