Aurobindo Pharma has announced an update regarding its solar power purchase agreement and acquisition of up to a 26% stake in Swarnaakshu Solar Power Private Limited. The company had previously communicated its intention to finalise this acquisition by 31 March 2026.
However, the completion of this investment is now contingent upon receiving state government approval for setting up a captive solar power plant. Aurobindo Pharma has stated that the necessary investment to acquire the 26% stake in Swarnaakshu will be completed on or before 30 June 2026, pending the requisite approval from the concerned state government.
This development follows a series of communications from Aurobindo Pharma, including letters dated 6 February 2025, 28 March 2025, 30 June 2025, 26 September 2025, and 30 December 2025, where the company outlined its plans to enter into a captive solar power purchase agreement and acquire the stake in Swarnaakshu.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).