Concord Biotech Limited — Important, 16-01-2025: Agreements

Concord Biotech Limited has entered into a Share Purchase Agreement to acquire a 26% equity stake in Clean Max Everglades Private Limited from Clean Max Enviro Energy Solutions Private Limited. This strategic investment, amounting to the acquisition of 2,600 equity shares at ₹10 each, aligns with the company's commitment to sustainability and its goals of reducing carbon emissions through renewable energy sources. The Clean Max entity is set to develop a captive power generation facility in Gujarat, with a wind capacity of 6.6 MW and solar capacity of 3.3 MWp DC. This move is projected to not only lower energy costs but also enhance operational efficiency, reinforcing Concord Biotech’s focus on environmental responsibility. The shares are expected to be allotted within 90 days following the investment. Positive outlook anticipated as this aligns with evolving market trends towards renewable energy utilization.