Premier Energies Limited announced an update regarding its joint venture with Premier-Green Aluminium Private Limited. Premier Energies now holds 80% of the equity share capital of the JV, with the remaining 20% held by Nuevosol Energy Private Limited. The JV has allotted 25,000 equity shares and plans to raise approximately Rs. 60 crores to support project implementation.
Joint Venture Equity Allocation
Premier Energies Limited has provided an update on its joint venture with Premier-Green Aluminium Private Limited. Following the allotment of shares, Premier Energies Limited now holds 80% of the equity share capital in the joint venture. The remaining 20% is held by Nuevosol Energy Private Limited. This equity distribution reflects the updated ownership structure following the recent share allotment.
Share Allotment Details
As part of the joint venture agreement, Premier-Green Aluminium Private Limited has allotted 25,000 equity shares. These shares have a face value of ₹10 each and were allotted at par to Nuevosol Energy Private Limited, a key partner in the joint venture.
Planned Capital Raise
The Joint Venture Company is planning to raise approximately Rs. 60 crores in additional capital. This capital will be raised in tranches and is earmarked for the implementation of the project. This additional funding will complement the existing resources and facilitate the project’s progress. The JV also plans to avail borrowings from banks and financial institutions to support the project.
Source: BSE
