City-based independent power producer Suryachakra Power Corporation Limited (SPCL) is contemplating structuring its business by creating a clean energy vertical, Lahari Power and Steels Limited (an SPCL’s subsidiary), as a second-level holding company.
SPCL plans to transfer its entire holding in MSM Energy Limited, South Asian Agro Industries Limited and Sri Panchajanya Power Private Limited, to Lahari Power and Steels Limited.
Luxembourg-based Climate Change Investment II SA SICAR has proposed to invest 26.1 per cent of post-restructure equity capital of Lahari Power and Steels, SPCL said in a filing to the BSE on Friday, adding that a meeting of the board of directors would be held on December 8 to approve the same.
