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Amplus Ages is engaged in generation and transmission of renewable energy and it is a special purpose vehicle (SPV) for setting up 100 MW AC ISTS connected solar power project, on a captive basis, at Village Jaimalsar, Bikaner, Rajasthan. Its turnover was Rs 0.21 crore as on December 2022.
The company will acquire Amplus Ages to meet the green energy needs, optimising energy costs and comply with regulatory requirements for captive power consumption under electricity laws.
The said acquisition will be completed within 180 days from the execution of electricity offtake agreement and share subscription and shareholders agreement.
UltraTech Cement is the cement flagship company of the Aditya Birla Group. It is the third largest cement producer in the world, outside of China, with a consolidated Grey Cement capacity of 136.65 mtpa.
The cement maker's consolidated net profit increased 69.6% to Rs 1,281.45 crore on 15.3% jump in revenue from operations to Rs 16,012.13 crore in Q2 FY24 over Q2 FY23.
The scrip rose 0.34% to Rs 9937.45 on the BSE.
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