InvestorQ : Is it true that Aurobindo Pharma is foraying into solar?
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Is it true that Aurobindo Pharma is foraying into solar?

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2 months ago
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Hyderabad based Aurobindo Pharma has inked an agreement to acquire 26% stake in two Hyderabad-based solar power generating companies. Aurobindo will make an investment of Rs.5.38 crore in Ramannapet I Power Plant Pvt Ltd and another Rs.5.38 crore in NVNR Ramannapet II Power Plant Pvt Ltd. The total investment would be worth Rs.10.76 crore.

After making the said investments, Aurobindo Pharma will be holding 26% stake in the share capital in each of both the solar power generating companies. The deal will assign an enterprise valuation of Rs.20.70 crore each to both the solar power plants located in the state of Telangana.

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