Vodafone Idea has announced its decision to acquire a 26% equity stake in MTK Quantum Green Energy Pvt. Ltd. for a cash consideration of ₹4,33,22,500. The acquisition, aimed at expanding its renewable energy portfolio, is expected to be completed within six months.
MTK Quantum Green Energy, incorporated on 29 October 2025, is a special purpose vehicle established for the ownership and operation of a captive power plant. The company, currently a subsidiary of Shree MTK Textiles Private Limited, is in the process of setting up a captive solar power plant in Tamil Nadu. The venture focuses on generating, transmitting, and distributing solar and wind power.
The acquisition aligns with Vodafone Idea‘s strategy to comply with regulatory requirements for captive power plants under the Electricity Act, 2003, and the Indian Electricity Rules, 2005. This move is also part of the company’s efforts to procure cost-effective renewable energy.
Vodafone Idea confirmed that the acquisition does not fall under related party transactions, and neither the promoter group nor group companies have any interest in MTK Quantum Green Energy. The acquisition will be executed in one or more tranches, with no governmental or regulatory approvals required.
MTK Quantum Green Energy currently has an authorised share capital of ₹15,00,000, divided into 1,50,000 equity shares of ₹10 each, and a paid-up share capital of ₹1,00,000, divided into 10,000 equity shares of ₹10 each. The company reported no turnover to date.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).