Alivus Life Sciences Limited has acquired a 9.21% stake in Torrent Urja 19 Private Limited, a special purpose vehicle (SPV) formed for setting up solar or other renewable energy projects. This acquisition follows the company's prior intimation dated April 2, 2025, regarding entering into a Share Purchase cum Subscription Shareholders' Agreement and Power Supply Agreement with the SPV.
The transaction involved a cash consideration of ₹14.04 crore, which represents the company's investment for the 9.21% equity stake in the SPV. The total investment commitment is up to ₹16 crore through equity, with ₹14.04 crore already invested in this transaction.
Torrent Urja 19 Private Limited is a subsidiary of Torrent Green Energy Private Limited, incorporated on August 6, 2024, in India. The SPV is engaged in generating, producing, transmitting, and distributing electrical power using solar energy and other renewable sources. It has a turnover of nil as of March 31, 2026.
The acquisition supports Alivus Life Sciences' commitment to become carbon neutral by 2030 and will enhance the share of renewable power in its operations. The investment enables the company to qualify for captive requirements as per the provisions of the Electricity Act, 2003.
The transaction does not fall within the purview of related party transactions. However, Nirma Limited (promoter of Alivus Life Sciences) has also entered into a similar agreement with Torrent Urja 19 Private Limited, acquiring a 16.99% stake in the SPV.
No governmental or regulatory approvals were required for this acquisition. The disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and relevant circulars.
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