February 4, 2025 | Mumbai, India
Indus Towers Limited (NSE: INDUSTOWER, BSE: 534816) has announced the acquisition of a
26% stake in Amplus Tungabhadra Private Limited, a
special purpose vehicle (SPV), to develop and operate a
captive power plant in compliance with regulatory requirements under
electricity laws.
Key Transaction Details
| Particulars | Details |
|---|
| Target Entity | Amplus Tungabhadra Private Limited |
| Industry | Renewable Energy |
| Stake Acquired | 26% |
| Acquisition Cost | ₹27 crore |
| Purpose | Captive consumption of 50 MW solar PV power |
| Consideration Type | Cash |
| Regulatory Approvals | Open Access Approval required |
| Estimated Completion | February 2026, subject to approvals |
Strategic Rationale
Indus Towers' investment aligns with its commitment to
renewable energy and
sustainability goals. The captive
50 MW Solar PV Plant will help Indus Towers comply with the
Electricity Act, 2003, and the
Indian Electricity Rules, 2005, ensuring sustainable energy consumption and advancing its
Net Zero objectives.
Company Statement
Samridhi Rodhe, Company Secretary & Compliance Officer of Indus Towers, confirmed the development, stating that the acquisition does
not fall under related party transactions.
Market Impact & Outlook
- The investment positions Indus Towers as a proactive player in renewable energy adoption.
- The ₹27 crore acquisition reflects the company’s strategic commitment to sustainable infrastructure.
- Regulatory approvals, including Open Access Approval, are anticipated before completion in February 2026.
This move reinforces
Indus Towers' focus on ESG compliance and energy efficiency, positioning the company for long-term sustainability-driven growth.
