Green Energy

Syngene International Limited has entered into an agreement for the purpose of acquisition of renewable power by acquiring equity stake up to 26% in O2 Renewable Energy II Private Limited (“O2”), Special Purpose Vehicle formed by O2 Energy SG Pte Ltd, for generation and supply of renewable power.

O2 Renewable Energy II Private Limited (“O2”) is a company incorporated under the Companies Act, 2013 on December 6, 2021, having corporate identification number U40108DL2021FTC390844, and registered office at C-53, Flatted Factory Complex, Jhandewalan, New Delhi 110055.

To enhance the renewable based power consumption, Syngene International Limited will acquire and maintain upto 26% stake in O2 throughout the term of the Power Purchase Agreement to maintain captive status as per Electricity Act, Share Purchase/ Subscription Agreement and Shareholders Agreement.

Cost of acquisition or the price at which the shares are acquired is Rs. 3,00,00,000 (Rupees Thirty Million Only) for acquisition of upto 26% stake on a fully diluted basis in one or more tranches.

Syngene International Limited acquires 26% stake in O2 Renewable Energy II Private Limited