Indus Towers Acquires 26% Stake in Amplus Tungabhadra for Rs 27 Cr

Feb 04, 2025 11:39

Indus Towers to acquire 26% stake in Amplus Tungabhadra for Rs 27 crore to consume 50 MW renewable energy from solar PV power plant.

New Delhi, Feb 4 (PTI) Indus Towers on Tuesday said it has signed an agreement to acquire 26 per cent stake in renewable energy firm Amplus Tungabhadra for about Rs 27 crore.

The telecom infrastructure firm will consume 50 megawatt of renewable energy from the proposed solar PV power plant of Amplus in compliance with regulatory requirements for captive power plants, a BSE filing said.

"The company has entered into an agreement for acquisition of 26 per cent of the equity share capital, on a fully diluted basis, in Amplus Tungabhadra Private Limited, a special purpose vehicle , for the purpose of owning and operating a captive power plant, in accordance with the regulatory requirement for captive power consumption under electricity laws," the filing by Indus Towers said.

The deal is expected to close by February 2026.

Source: PTI

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Indus Towers Acquires 26% Stake in Amplus Tungabhadra for Rs 27 Cr

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