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Alivus Life Sciences invests in Torrent Urja for renewable energy

April 2, 2025 at 07:02 PM UTCBy FilingReader AI

Alivus Life Sciences Limited (ALIVUS) has announced its investment in Torrent Urja 19 Private Limited through a Share Purchase cum Subscription Shareholders' Agreement and Power Supply Agreement. The move, aligned with ALIVUS’s goal to become carbon neutral by 2030, will see ALIVUS acquire a minimum 9.21% stake in Torrent Urja 19 for a consideration of INR 15,59,99,900. This investment allows ALIVUS to increase its renewable energy usage and comply with regulations for captive power consumption under Indian electricity laws. Torrent Urja 19, a subsidiary of Torrent Green Energy Private Limited, focuses on solar and renewable energy projects. The acquisition is expected to be completed within six months.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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