Arvind Limited has entered into new agreements to acquire substantial equity stakes in two renewable energy entities, Torrent Urja 12 Private Limited and Torrent Urja 21 Private Limited. The company will invest up to ₹3.47 Crores for a 13.30% stake in TU12 and up to ₹17.33 Crores for a 26.60% stake in TU21. These acquisitions aim to secure the company’s renewable power supply and capitalize on significant financial benefits.
New Renewable Energy Partnerships
Arvind Limited announced today its strategic move to acquire significant equity stakes in two new renewable energy companies: Torrent Urja 12 Private Limited (TU12) and Torrent Urja 21 Private Limited (TU21). This development follows the termination of a previous agreement with Torrent Urja 28 Private Limited (TU28) due to capacity reallocation.
Acquisition Details for TU12
For Torrent Urja 12 Private Limited, Arvind Limited proposes to subscribe to equity shares, representing a minimum of 26.6% equity. The total investment for this stake is up to ₹3.47 Crores, securing approximately 13.30% of the equity share capital. TU12 is an Indian company incorporated on April 18, 2023, focused on Solar & Wind Hybrid energy generation in Gujarat. The company intends to use the generated electricity as a captive user, anticipating significant financial and commercial benefits.
Acquisition Details for TU21
Similarly, Arvind Limited will invest up to ₹17.33 Crores to acquire a minimum of 26.6% equity in Torrent Urja 21 Private Limited (TU21). This investment will represent 26.60% of the equity share capital in TU21. TU21, incorporated on August 5, 2024, is also an Indian company established for Hybrid Power generation facilities in Gujarat. This move aligns with Arvind Limited’s strategy to secure renewable energy supply and leverage beneficial financial arrangements.
Previous Agreement Termination
The disclosure also confirmed the mutual termination of a prior Power Transfer Agreement (PTA) and Share Subscription and Shareholders’ Agreement (SSHA) with Torrent Urja 28 Private Limited (TU28), effective August 25, 2026. This termination was a result of capacity reallocation. As of the disclosure date, Arvind Limited had not made any equity infusion towards TU28 and therefore holds no equity participation in that entity.
Source: BSE
