Grasim acquires 26% equity in green power SPVs

Grasim Industries Limited announced on November 8, 2025, the acquisition of a 26% equity stake in Special Purpose Vehicles (SPVs) to secure renewable energy as a captive user. The company has executed Share Subscription-Cum-Shareholders’ Agreements and Power Purchase Agreements with Pro-Zeal Green Power Eighteen Private Limited for its Vilayat Plant in Gujarat and with Pro-Zeal Green Power Nineteen Private Limited for its Balabhadrapuram Plant in Andhra Pradesh.

The acquisition aims to meet green energy needs, optimize energy costs, and comply with regulatory requirements for captive power consumption. The transactions are not considered related party transactions and do not require governmental or regulatory approval. The indicative time for completion is within 30 days of the agreement execution.

The investment involves a cash consideration, with an equity investment up to Rs. 20.50 crore in one or more tranches for Pro-Zeal Green Power Nineteen Private Limited. This SPV, incorporated on September 24, 2025, will develop a captive wind-solar hybrid power generation facility with a capacity of approximately 21 MW for Grasim's Vilayat plant.