Sanathan Textiles arm to acquire 26% stake in Serentica unit
Sanathan Textiles Limited has announced that its wholly owned subsidiary, Sanathan Polycot Private Limited (SPPL), will acquire a 26% stake in Serentica Renewables India 33 Private Limited for a total consideration of Rs 48 crore. The investment will be made in tranches under a Share Subscription and Shareholders’ Agreement (SSSHA) and a Power Supply and Consumption Agreement (PSCA), enabling SPPL to source renewable power as a captive consumer for 32 MW. Strategic rationale and structure…