Indus to acquire 26% in Amplus Tungabhadra in Rs 27 cr all-cash deal
Indus Towers will acquire a 26% stake in Amplus Tungabhadra Pvt Ltd, a special purpose vehicle (SPV) involved in the renewable energy space, for a cash consideration of Rs 27 crore, the telecom tower company informed exchanges Tuesday early morning.
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The planned acquisition, it said, is for the purpose of owning and operating a captive power plant, in keeping with the regulatory requirements for captive power consumption under India’s electricity laws.
“…the company has entered into an agreement for acquisition of 26% of the equity share capital, on a fully diluted basis, in Amplus Tungabhadra Pvt Ltd, a special purpose vehicle, for the purpose of owning and operating a Captive Power Plant,” Indus said in a BSE filing.
The telecom tower company added that it will consume 50 MW of renewable energy from Solar PV power plant in compliance with regulatory requirement for captive power plants as per the provisions of Electricity Act, 2003 and Indian Electricity Rules, 2005. “This acquisition aligns with Indus’ renewable energy objectives, supporting the consumption of sustainable energy and advancing its Net Zero goals.”
The deal is subject to the receipt of all consents, permissions required to be obtained by Amplus Tungabhadra from regulatory authority(s), and the indicative time of completion is February 2026, the towerco added.
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