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Informist, Wednesday, Jul. 8, 2026

 

MUMBAI – Varroc Engineering Ltd. Wednesday said it will invest up to INR 4.87 million in two special purpose vehicles in Karnataka and Tamil Nadu to establish renewable power plants. The company will invest not more than INR 2.28 million to acquire 0.44% stake in AMPIN Energy C&I One Pvt. Ltd. in Tamil Nadu and not more than INR 2.59 million to acquire 0.83% stake in AMPIN C&I Power Twelve Pvt. Ltd. in Karnataka, according to an exchange filing. 

 

The proposed power plants from the special purpose vehicles are to source solar power for the company's facilities. The acquisition is expected to be completed on or before Aug. 30.

 

Varroc Engineering has entered into a power delivery agreement and share purchase and shareholder's agreement with AMPIN C&I Power Twelve and AMPIN Energy C&I One, it said in the filing. These special purpose vehicles were formed to develop, build, and manage renewable power assets and to establish renewable power plants in the two states.

 

Wednesday, shares of Varroc Engineering ended at INR 636.75 on the National Stock Exchange, down 2.2% from Tuesday. For the March quarter, the company had reported a consolidated net profit of INR 693.15 million on revenues of INR 23.68 billion.  End

 

Reported by Ashutosh Pati

Edited by Rajeev Pai

 

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