Syngene International Limited (SYNGENE) announced an investment to increase its stake in O2 Renewable Energy II Private Limited.

Key details of the investment:

• Target Company: O2 Renewable Energy II Private Limited, a power generation company operating a 201.2 MW wind-solar hybrid plant in Kudligi Taluk, Bellary District, Karnataka.
• Purpose: To enhance renewable power consumption and maintain captive status.
• Investment Amount: ₹6.5 crores (Rupees Sixty-Five Million Only) in cash consideration.
• Increased Stake: Syngene's stake in O2 Renewable Energy has increased to 33.79%.
• Timeline: The acquisition is expected to be completed on or before 31 May 25.
• O2 Turnover:
  • FY 2023-24: ₹5.12 crores
  • FY 2022-23: ₹4.65 lakhs
• Incorporation Date of O2: 6 Dec 21