Birla Corporation Limited (BSE:500335) agreed to acquire 6.04% stake in CGE II Hybrid Energy Private Limited for INR 57.1 million on March 7, 2025. A cash consideration of INR 57.12 million will be paid by Birla Corporation Limited. As part of consideration, INR 57.12 million is paid towards common equity of CGE II Hybrid Energy Private Limited.
For the period ending March 31, 2024, CGE II Hybrid Energy Private Limited reported total revenue of INR 0.
The transaction is subject to customary conditions precedents and is expected to be completed on or before June 30, 2025.
Birla Corporation Limited is an India-based holding company. It is primarily engaged in the manufacturing of cement and clinker. It also manufactures jute products and steel castings. Its segments include cement, jute and others. The Cement Division has over 10 plants at eight locations. It manufactures varieties of cement like Ordinary Portland Cement (OPC-43 & 53 grades), Portland Pozzolana Cement (PPC-fly ash-based), Portland Slag Cement (PSC), Sulphate Resistant Cement and Composite Cement. Its cement products are marketed under the brand names of MP Birla Cement PERFECT PLUS, RAKSHAK, SAMRAT ADVANCED, ULTIMATE ULTRA, UNIQUE PLUS, SAMRAT, ULTIMATE, CHETAK, PSC, and MULTICEM & CONCRECEM. Its cement product has application in Metro line, airport runway, reservoirs, industrial building, and others. The Company is manufacturing over 120 tons of a variety of jute products in Birla Jute Mills. Its jute product range applications include yarns, bags, ropes, mats, carpets, and panama.
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