Nitin Spinners Acquires 6.66% in CGE II Hybrid Energy

Nitin Spinners Ltd. acquires 9,520,202 equity shares (6.66% stake) in CGE II Hybrid Energy Private Limited for Rs. 9.52 crore cash consideration.
The acquisition enables 10 MW renewable Wind Solar Hybrid power supply for Nitin Spinners' plants in Bhanwaria Kalan, Begun, and Chittorgarh, Rajasthan.
CGE II Hybrid Energy, a subsidiary of Continuum Green Energy Limited and newly formed SPV, has reported NIL turnover since incorporation in December 2021.
The transaction is not a related party transaction and is expected to be completed on or before 30th September 2026.