Nandan Denim invests ₹4 Cr for 6.1% stake in SPV for captive power

Nandan Denim Ltd's Board has approved the acquisition of a 6.1% equity shareholding in Opera Vayu (Narmada) Private Limited, a Special Purpose Vehicle (SPV), for a cash consideration of ₹4,00,20,960. This investment is part of a Share Transfer cum Shareholders’ Agreement with the SPV and Shivman Wind Energy Private Limited. The primary objective is to procure 4.3 MW of wind and solar power under the captive power route to reduce power costs at Nandan Denim's Bareja Plant for a period of 25 years. The SPV, incorporated on August 1, 2022, operates in renewable energy generation. The acquisition is expected to be completed by June 30, 2026.