INDO-MIM Limited has announced its decision to invest up to ₹97,500 by subscribing to equity shares in M/s. Meena Solar Power Park Private Limited. This investment, representing 6.5% of the target company’s share capital, is aimed at meeting statutory requirements under the Electricity Act and facilitating the purchase of electricity through a Group Captive Scheme. The move is expected to enhance the company’s contribution to green power usage and reduce average energy costs.
Strategic Investment in Renewable Energy
INDO-MIM Limited has approved a strategic investment of up to ₹97,500 by subscribing to the equity shares of M/s. Meena Solar Power Park Private Limited. This investment will secure a 6.5% stake in the target company, which operates within the renewable energy sector.
Rationale and Objectives
The primary objective of this investment is to fulfill the statutory requirements mandated by the Electricity Act. By entering into a Group Captive Scheme, INDO-MIM Limited will purchase electricity, thereby enhancing its commitment to green power consumption. This initiative is also projected to lead to a reduction in the company’s average energy costs.
Acquisition Details
The target entity, M/s. Meena Solar Power Park Private Limited, was incorporated on August 06, 2024, as a special purpose vehicle. It is engaged in the construction, operation, and maintenance of an off-site grid-connected solar power plant in Tamil Nadu, with a total capacity of 16.80 MWp DC. The company has commenced its business operations in September 2026. The acquisition is expected to be completed by December 31, 2026.
Financial Results
The company also announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The Board of Directors considered and approved these results during their meeting held on November 13, 2026.
Source: BSE
