Elgi Equipments has acquired 14,40,000 shares constituting 6.55% of paid up share capital in First Energy TN 1 (FETPL). The object of acquisition of 6.55% shareholding is to comply with the minimum shareholding requirement of 26% under the captive project rules along with other captive users.
FETPL develops and operates captive power plant and solar power plant on built-own-operate basis to undertake business and meet the captive consumption requirements of captive users.
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