Astral Limited has entered into a Share Subscription and Shareholders’ Agreement with Vena Energy Sustainable Power Private Limited to acquire equity shares, aiming to meet its captive user requirements for renewable energy.
Vena Energy Sustainable Power, a subsidiary of a company incorporated outside India, focuses on renewable energy generation and development, specifically through a hybrid solar and wind power plant. Astral‘s investment, up to ₹9 crore, will be made in one or more tranches, acquiring up to 19% equity share capital. The transaction is expected to conclude by 30th April 2026.
The acquisition does not constitute a related party transaction, and there is no interest from Astral’s promoter group in Vena Energy. The investment aligns with Astral’s strategy to offtake electricity as a captive user in Gujarat, promising significant financial and commercial benefits.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).