Tech Mahindra Upinder Singh will acquire 26 percent in Multitrans. | Tech US News


Tech Mahindra Limited has entered into a share subscription agreement to acquire 26% equity stake in Upendra Singh Multi-Transmission Pvt.

In a regulatory filing, the company said, “Tech Mahindra is a signatory to the Business Ambition for 1.5 degrees Celsius, which commits to limiting global temperature rise to 1.5 degrees Celsius. The organization will become net-zero by 2040.” will go

It added, “While we have installed rooftop solar plants at all our owned campuses, we also intend to acquire renewable energy (RE) through captive projects at all our campuses. Captive or group captive.” Projects are projects set up by a developer. Minimum 26% equity share from interested customers (eg Tech Mahindra) and RE generated from such projects is used by Tech Mahindra as per Govt. “

In addition, the acquisition will enable the company to acquire 1.5 MW of solar energy for its captive consumption at its facilities located in Noida, UP.

Around 9:18 am, Tech Mahindra Ltd was trading up Rs 5.45 or 0.5 per cent at Rs 1,088 per share from its previous close of Rs 1,082.55 per share on the BSE.

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