Jubilant Ingrevia Limited has provided an update on its ongoing stake acquisition in O2 Renewable Energy XVIII Private Limited (O2). This is a continuation of the company's earlier communication dated March 7, 2024, in which it announced its intention to acquire up to 28% stake in O2, comprising 64,575 Compulsory Convertible Debentures (CCDs) with a face value of Rs. 1,000 each, and 37,92,500 equity shares with a face value of Rs. 10 each.

As of December 24, 2024, Jubilant Ingrevia has successfully acquired 13,27,375 equity shares and 22,601 CCDs of O2, marking substantial progress in its acquisition strategy. The company remains on track to complete the acquisition of the remaining stake as per the terms outlined in its agreement with O2 Renewable Energy. The full acquisition is expected to be concluded by March 31, 2025, further strengthening Jubilant Ingrevia's position in the renewable energy sector.

The company has already complied with the Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, by disclosing the details of the acquisition in the previous letter. The updated information regarding this acquisition will also be available on Jubilant Ingrevia’s official website, ensuring that investors and stakeholders are fully informed.

This acquisition is a key part of Jubilant Ingrevia’s strategy to expand its footprint in the renewable energy space, aligning with the growing demand for sustainable energy solutions. By increasing its stake in O2, the company is positioning itself as a major player in the energy transition, which is expected to gain significant momentum in the coming years.

The Jubilant Ingrevia team continues to focus on strategic investments and sustainable growth, with this acquisition aligning with the company’s broader vision for the future. As the acquisition process progresses, Jubilant Ingrevia is committed to keeping its stakeholders updated on any developments related to the transaction.

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