Thursday, Jun 04, 2020 | Last Update : 04:29 PM IST

72nd Day Of Lockdown

Maharashtra74860323292587 Tamil Nadu2587214316208 Delhi236459542615 Gujarat18117122121122 Rajasthan96526744209 Uttar Pradesh88705257230 Madhya Pradesh82835003358 West Bengal61682410364 Karnataka4063151453 Andhra Pradesh3971246468 Bihar3945174123 Telangana3020155699 Jammu and Kashmir260194631 Odisha238814169 Haryana2356105521 Punjab2301200044 Kerala149565112 Assam14862854 Uttarakhand9592225 Jharkhand6612965 Chhatisgarh5481211 Tripura4231730 Himachal Pradesh3401186 Chandigarh2972144 Puducherry88300 Manipur83110 Goa73500 Nagaland5800 Arunachal Pradesh3710 Meghalaya33131 Mizoram1410 Sikkim200

Bharti Airtel to acquire 26 per cent stake in AMPSolar for Rs 8.4 crore

PTI
Published : Oct 19, 2019, 4:34 pm IST
Updated : Oct 19, 2019, 4:34 pm IST

Airtel will subscribe to 84,000 equity shares, equivalent to 26 per cent stake in the company.

Apart from equity, Airtel will also subscribe to 83,160 CCDs of Rs 1,000 each amounting to Rs 8.31 crore. (Photo: PTI)
 Apart from equity, Airtel will also subscribe to 83,160 CCDs of Rs 1,000 each amounting to Rs 8.31 crore. (Photo: PTI)

New Delhi: Telecom operator Bharti Airtel has signed a pact with AMPSolar Evolution to acquire 26 per cent stake in the solar power firm for Rs 8.4 crore.

The Sunil Bharti Mittal-led firm has signed an agreement with the renewable energy company to meet the green energy needs and optimise energy costs, as well as to comply with the regulatory requirement around consumption of electricity.

"...the company has entered into an agreement on October 18, 2019 for acquisition of equity shares and compulsory convertible debentures (CCDs) in AMPSolar Evolution Private Limited," Bharti Airtel said in a late night regulatory filing on Friday.

AMPSolar Evolution is a wholly-owned subsidiary of AMPSolar Technology Private Limited and a special purpose vehicle for the purpose of setting up captive solar power projects in Uttar Pradesh.

Airtel will subscribe to 84,000 equity shares, equivalent to 26 per cent stake in the company, for Rs 10 each amounting to Rs 8.4 crore.

Apart from equity, Airtel will also subscribe to 83,160 CCDs of Rs 1,000 each amounting to Rs 8.31 crore.

The turnover of AMPSolar Evolution was nil as on March 31, 2019, according to the filing.

Tags: airtel, ampsolar, stake
Location: India, Delhi, New Delhi