Indus Towers Acquires 26% Stake in Amplus Tungabhadra for Renewable Energy Goals

BY ADMIN • FILED 04 Feb 2025, 10:02 AM

Indus Towers Limited has entered into an agreement to acquire a 26% stake in Amplus Tungabhadra Private Limited. Below are the key details of the transaction:

Target Company: Amplus Tungabhadra Private Limited.
Sector: Amplus Tungabhadra operates in the renewable energy sector.
Acquisition Objective: The acquisition aims to secure 50 MW of renewable energy from a solar PV power plant, ensuring compliance with regulatory requirements for captive power consumption. This supports Indus Towers’ renewable energy and Net Zero objectives.
Equity Stake Acquired: Indus Towers will acquire 26% of the fully diluted equity share capital of Amplus Tungabhadra Private Limited.
Acquisition Cost: Approximately Rs 27 Crore.
Consideration: The deal will be settled in cash.
Expected Completion: The acquisition is slated for completion by February 2026, pending regulatory approvals.
Related Party Status: This acquisition is not categorized as a ‘related party transaction’.
Required Approvals: The deal is subject to Open Access Approval.
About Amplus Tungabhadra: Incorporated on October 6, 2023, Amplus Tungabhadra is focused on the ownership, development, operation, and maintenance of power stations, including renewable energy plants. The company will set up a 50 MW Solar PV captive plant.

In summary, Indus Towers’ acquisition of a 26% stake in Amplus Tungabhadra aligns with its commitment to renewable energy and regulatory compliance. The transaction is expected to close by February 2026.