TVS Srichakra has made a strategic investment of ₹3,78,79,138 in Navia Two Power Private Limited, acquiring 19,863 equity shares. This move increases TVS Srichakra‘s total shareholding in Navia from 5,915 to 25,778 equity shares. The acquisition was made through a rights issue at a face value of ₹10 per share with a premium of ₹1,897.02 per share.
Navia Two Power Private Limited, incorporated on 12 August 2024, is a special-purpose vehicle under the Zelestra Group. It focuses on electric power generation using non-conventional sources and operates a captive power plant. This investment aligns with TVS Srichakra’s strategy to comply with regulatory requirements for captive power consumption under Indian electricity laws.
The acquisition does not fall within related party transactions, and neither the promoter group nor group companies have any interest in Navia. The investment was completed on 20 March 2026, with the entire consideration settled in cash.
Navia, based in Gurgaon, Haryana, is engaged in the renewable energy sector. Despite being a relatively new entity, Navia is poised to play a significant role in TVS Srichakra’s renewable energy strategy.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).