Indian Metals & Ferro Alloys Limited — Important, 17-12-2024: General Updates

Indian Metals & Ferro Alloys Limited has entered into a Binding Term Sheet with JSW Green Energy One Ltd. and JSW Green Energy Seven Ltd. to supply hybrid renewable power totaling 70 MW (50 MW solar and 100 MW wind). This initiative is aligned with their strategy to enhance sustainability and reduce reliance on traditional energy sources. The acquisition entails an investment of ₹83.26 Crore for a 26% stake in the power producers, which were recently incorporated in 2024. Expected completion is set for June 2026. This collaboration positions IMFA to leverage the growing renewable energy sector while promoting its green initiatives, leading to a positive outlook for future growth.