O2 Renewable Energy Xxiv Private Limited announced that it has entered into securities subscription agreement for INR 17,500,000 on May 10, 2024. The transaction will include participation from new investor Glenmark Pharmaceuticals Limited for 26% stake. The company will issue common shares at price of INR 10 per share and compulsorily convertible debentures at a price of INR 1,000 per share.

The transaction is expected to be completed in approximately in 3 months.