Premier Energies Limited invests ₹1.05 Crore in Mavyatho Ventures Private Limited.
Investment is through the allotment of 10,50,000 0.1% Non-Cumulative Optionally Convertible Redeemable Preference Shares (OCRPS) of face value ₹10 each, by way of a rights issue.
Mavyatho Ventures is an associate company involved in solar power generation.
Premier Energies already holds 30% equity shares in Mavyatho Ventures.
Post allotment, Premier Energies will hold 36.70% of capital in Mavyatho Ventures.
The investment will support the capital requirements of Mavyatho Ventures for its ongoing business activities.