Lupin Limited has acquired a 42.61% equity stake in Sunsure Solarpark Seventeen Private Limited. This follows the share subscription and shareholders agreement with Sunsure Solarpark and Sunsure Energy Private Limited, involving an equity investment of Rs 105.53 million, to be executed in two tranches.
Lupin Limited has signed a share subscription and shareholders agreement with Sunsure Solarpark Seventeen Private Limited and Sunsure Energy Private Limited to acquire up to 42.61% of Sunsure Solarpark’s shares through an investment of Rs 105.53 million, completed in two stages. This investment will allow Lupin to source renewable energy for its Tarapur manufacturing site, reducing power costs and advancing its decarbonization goals. The transaction is expected to be finalized within the next six months.