Praj Industries Limited — Board Meeting, 30-01-2025: Outcome of Board Meeting

Praj Industries Limited has announced a board meeting, confirming the formation of a Joint Venture Company (JVC) with Bharat Petroleum Corporation Limited (BPCL) to establish Compressed Bio Gas (CBG) plants throughout India. The shareholding pattern for the proposed JVC will be evenly split, with Praj and BPCL each holding 50%. This venture aims to enhance the commercialization of Praj's CBG technology, focusing on constructing, operating, and maintaining CBG plants as well as the sale of CBG and its derivatives. Further financial details regarding capital subscription will be finalized in a definitive agreement.