Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Outcome of Board Meeting - Investment Disclosure under SEBI LODR Regulations
Key Financial Highlights:
Investment Amount: INR 10.50 million (to be invested in one or more tranches)
Percentage of Capital Contribution: 26% of the fixed capital of SLYCE AGRI WORLD LLP
Corporate Actions:
The Board of Directors approved a capital contribution of up to INR 10.50 million in SLYCE AGRI WORLD LLP ("LLP"), representing 26% of the fixed capital of the LLP. The investment will be made through cash consideration by remittance through normal banking channel.
The investment enables the company to enter into a Power Purchase Agreement (PPA) with Slyce for captive power usage. The capital contribution of 26% is required to comply with electricity act/GERC/CERC captive power regulations to become sole captive member consumer of the generating entity.
Target Entity Details:
Name: SLYCE AGRI WORLD LLP
LLPIN: AAH 8663
Date of Incorporation: 23 November 2016
Industry: Generation and sale of solar power in the private sector
Business: Generation of renewable energy from conventional and non-conventional sources of energy and supply of electricity
Turnover History:
FY 2022-23: INR 1.30 million
FY 2023-24: INR 40.86 million
FY 2024-25: INR 22.40 million
Transaction Details:
Nature of Transaction: Not a related party transaction
Promoters/Promoter group/group companies have no interest in Slyce Agri World LLP
Governmental/Regulatory Approvals Required: Not Applicable
Estimated Completion Time: Within six months
Other Significant Information:
The investment is for group captive power generation to ensure captive power supply compliance
Slyce Agri World LLP operates as a special purpose vehicle for renewable energy generation