Mukul Agarwal Holds 1.03 Per Cent Stake: Company Board Approves Rs 50 Crore Investment and Acquisition to Expand Into Renewable Energy With 100 Per Cent Stake In New Subsidiary
The Board of Directors of the Company considered and approved the acquisition of EIE Renewables Private Limited.
Enviro Infra Engineers Limited (EIEL), a company listed on the NSE and BSE Limited, announced the outcome of its Board Meeting held on today, May 6th, 2025. The Board of Directors of the Company considered and approved the acquisition of EIE Renewables Private Limited.
The cost of acquisition is Rs 10,00,000 (Rupees Ten Lakhs Only) by acquiring Rs 1,00,000 (One Lakh) equity shares from the existing shareholders of EIE Renewables Private Limited at a price of Rs 10 per share. Furthermore, EIEL plans to invest an additional Rs 49,90,00,000 in EIE Renewables Private Limited. This further investment will be made either through fresh allotment of shares or through a loan with an option to convert such loan into equity shares in one or more tranches, as may be decided in due course, with intimation to follow.
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Upon completion of this acquisition, EIE Renewables Private Limited will become a Wholly Owned Subsidiary of Enviro Infra Engineers Limited. EIE Renewables Private Limited is an Indian Company incorporated under the Companies Act, 2013 on February 18, 2025. It is engaged in the business of Non-conventional/Renewables and Sustainable Energy Generation and its Distribution, with a PAN India market presence. Since the Target Company is newly incorporated, its business activity is yet to commence, and therefore, its turnover is 'NIL' in the last three years.
Enviro Infra Engineers Limited is involved in the design, construction, operation, and maintenance of Water and Wastewater Treatment Plants (WWTPs) and Water Supply Scheme Projects (WSSPs), primarily for government bodies in India. Their projects include Sewage Treatment Plants (STPs), Sewerage Schemes, and Common Effluent Treatment Plants (CETPs) within the wastewater treatment sector. For water supply schemes, the company's services extend to Water Treatment Plants (WTPs), along with the installation of pumping stations and pipeline laying to ensure efficient water distribution.
Disclaimer: The article is for informational purposes only and not investment advice.