Primo Chemicals Executes 21 Crore Solar SPV Agreement

Primo Chemicals executed PPA and SSSHA to subscribe to 26% equity in TPCS Private Limited for ₹21 crores.
The investment is for a 49.998 MW AC captive solar power plant operating on an OPEX model.
Primo gains significant rights including first refusal on promoter stake transfers and veto rights over key SPV actions.
The transaction is not a related party transaction and was executed at arm's length.