Mumbai, March 13 -- Virya Infrapower is engaged in the business of development of renewable projects in India and its related activities.

The acquisition provides the opportunity to acquire a ready renewable power site with necessary infrastructure to achieve accelerated project development.

The transaction, valued at an enterprise value of Rs 7.54 crore, involves the acquisition of 100% of the equity shares of Virya Infrapower. The deal was closed on the same day the Share Purchase Agreement (SPA) was signed. The acquisition is subject to post-closing adjustments as specified in the SPA and will be settled with 100% cash consideration.

Virya Infrapower has become a step-down subsidiary of the company.

The official announcement was ma...