Aurobindo Pharma Extends Timeline to Acquire 26% in Swarnaakshu Solar
New Delhi: Aurobindo Pharma Limited has revised timeline for completing its proposed captive solar power arrangement and equity investment in Swarnaakshu Solar Power Private Limited.
The company stated that the acquisition of up to a 26% equity stake in Swarnaakshu, along with the associated solar power purchase agreement, will now be completed on or before March 31, 2026, subject to receipt of approval from the concerned state government.
In its regulatory communication, Aurobindo Pharma referred to its earlier disclosures made on February 6, March 28, June 30, and September 26, 2025, where it had indicated plans to enter into a captive solar power purchase agreement and acquire up to a 26% stake in Swarnaakshu by December 31, 2025. The company clarified that the timeline has been extended due to the pending approval from the state government for setting up the captive solar power plant.
According to the update, the required investment for acquiring the proposed stake will be completed within the revised timeframe once the necessary approvals are received. Aurobindo Pharma emphasized that completion of the transaction remains subject to regulatory clearance from the relevant state authorities.
The intimation was submitted to the National Stock Exchange of India Limited and BSE Limited in compliance with disclosure requirements. The communication was signed by B. Adi Reddy, Company Secretary, on behalf of the company.
Aurobindo Pharma stated that the information is being placed on record for the benefit of investors and stakeholders and reiterated its commitment to keeping the exchanges informed about material developments related to its renewable energy initiatives and strategic investments.