Aurobindo Pharma informs that the acquisition of a 26% stake in Swarnaakshu Solar Power Private Limited, initially expected by December 31, 2025, will be delayed. The completion is now targeted on or before March 31, 2026, pending state government approval for setting up a captive solar power plant. The required investment for acquiring the stake is contingent on this approval.
Delay in Solar Power Stake Acquisition
Aurobindo Pharma has announced a delay in its plan to acquire a 26% stake in Swarnaakshu Solar Power Private Limited. The company had previously intended to complete this acquisition by December 31, 2025.
Reason for the Delay
The delay is attributed to pending receipt of state government approval required for setting up a captive solar power plant. The completion of the investment for acquiring the 26% stake in Swarnaakshu is now expected on or before March 31, 2026. This revised timeline is subject to the receipt of the necessary approval from the concerned state government.
Original Agreement
The original plan, as communicated in prior letters dated February 6, 2025, March 28, 2025, June 30, 2025, and September 26, 2025, outlined the company’s intention to enter into a captive solar power purchase agreement and acquire the aforementioned stake in Swarnaakshu Solar Power Private Limited.
Source: BSE
