MRF Ltd. will be acquiring up to 27.2% of the paid-up equity of Pune-based First Energy 8 Pvt. for approximately Rs 35.9 crore in order to enhance its source of renewable power supply.
“In order to enhance its source of renewable power supply, MRF will acquire and maintain an equity stake (up to 27.2%) in First Energy 8 Private Ltd per the group captive generation mechanism under the Electricity Act,” according to a statement.
ADVERTISEMENT
The time period for completion of the acquisition via cash consideration is Jan. 31, it said.
First Energy is involved in developing and operating renewable energy-based power plants in India.
Shares of MRF closed 0.44% higher at Rs 1,30,543.60 apiece on the BSE, as compared with a 0.75% fall in the benchmark Sensex.
WRITTEN BY
Add us to your Preferences
Set as your preferred source on Google
ADVERTISEMENT
RECOMMENDED FOR YOU
Tata Steel Acquires Shares Worth Rs 3,104 Crore In Singapore Unit
Aug 26, 2025
 India Aviation, aeroplane, aircraft (6).jpeg?rect=0%2C0%2C3500%2C1969&w=75)
IndiGo Block Deal: Co-Founder Rakesh Gangwal, Promoter Arm To Offload Stake Worth Rs 7,028 Crore
Aug 26, 2025
ReNew Says It Reduced 18.6 Million Tonnes Of Carbon Emissions In FY25
Aug 05, 2025
IndiGo Flight Develops Flat Tyre At Jabalpur Airport, Takes Off For Mumbai After Four Hours
Aug 04, 2025
POPULAR
1
Vaishno Devi Landslide: Adityanath Announces Rs 4 Lakh Ex Gratia For Victims From UP
2
UP Liquor Exports Set To Cross 1,000 Million Litres By 2026: Industry Body
3
IATA Proposes Higher Age Limit Of 67 Years For Pilots Operating Commercial Flights
4
Delhi Traders See US Tariff Hike As Temporary Setback, Urge Support For Exports
5