Indian Metals & Ferro Alloys Limited — JV/Acquisition, 17-12-2024: Acquisition

Indian Metals & Ferro Alloys Limited has entered into a Binding Term Sheet to supply 70 MW of hybrid renewable power, comprising 50 MW of solar and 100 MW of wind capacity, from JSW Green Energy One Ltd. and JSW Green Energy Seven Ltd. This acquisition, valued at Rs. 83.26 Crore for a 26% stake, aims to enhance the company's renewable power supply and align with sustainability goals. Completion is anticipated by June 2026, enabling IMFA to reinforce its commitment to renewable energy and potentially reduce operational costs in the long term.