Indian Metals & Ferro Alloys Limited — JV/Acquisition, 25-02-2025: Acquisition

Indian Metals & Ferro Alloys Limited has entered into a binding term sheet with AMPIN Energy Utility One Private Limited to secure a 40 MW hybrid renewable power supply, consisting of 58 MW AC solar and 58 MW wind capacity. The acquisition, valued at Rs. 61.60 Crore, allows the company to enhance its renewable energy footprint, aligning with strategic goals to diversify and capitalize on sustainable power sources. Completion is anticipated by June 2026, with a 16.26% stake acquired in the newly formed entity, which is positioned to contribute significantly to India's energy sector.