Emcure Acquires 26% Stake in Torrent Urja 37 to Power Gujarat Units

Emcure Pharmaceuticals Limited has entered into a Share Subscription and Shareholders’ Agreement, along with Power Transfer Agreement(s), dated June 2, 2025, to acquire a strategic stake in Torrent Urja 37 Private Limited (TUPL). This move aligns with Emcure’s sustainability goals and its growing focus on renewable energy solutions.

About the Target Entity: Torrent Urja 37 Pvt. Ltd

Torrent Urja 37 Pvt. Ltd. (TUPL), incorporated on January 20, 2025, is a wholly owned subsidiary of Torrent Green Energy Private Limited (TGEPL). Headquartered in Ahmedabad, Gujarat, TUPL is currently in the process of establishing a ground-mounted solar photovoltaic power generation facility with a capacity of 11.27 MWp. The project is being developed as a captive power generation setup in compliance with applicable Indian regulations.

TUPL’s authorised and paid-up share capital stands at ₹5 lakh, comprising 50,000 equity shares of ₹10 each.

Strategic Objectives and Impact of the Acquisition

The acquisition aims to help Emcure meet its electricity demands at designated facilities in Gujarat through a clean and cost-efficient energy source. By entering into Power Transfer Agreements, Emcure will purchase the solar power generated by TUPL, thereby reducing its carbon footprint and ensuring energy security for its operations.

The move also reflects a growing trend among large Indian corporates to reduce reliance on conventional power sources and move towards greener alternatives, especially through captive solar projects.

Acquisition Terms and Financial Details

The acquisition is being carried out through a cash consideration of ₹3,71,87,740. Emcure will acquire at least 26% of TUPL’s paid-up share capital on a fully diluted basis. Completion of the transaction is subject to regulatory approvals, including permissions related to open access for captive power consumption.

TGEPL’s Role and Industry Relevance

Torrent Green Energy Pvt. Ltd, the parent of TUPL, is one of India’s leading utility companies with operations in both renewable and conventional power generation, distribution, and power trading. Through its subsidiary TUPL, it aims to expand its footprint in the clean energy segment.

Emcure Share Price Performance

On June 3, 2025, Emcure share price opened at ₹1,349.90, almost the same as its previous close of ₹1,349.50. At 10:07 AM, the share price of Emcure was trading at ₹1,345.60, down by 0.29% on the NSE.

Also Read: Emcure Pharma Q4FY25 Earnings Results: Revenue and PAT Recorded Double-Digit Growth!

Conclusion

Emcure’s investment in Torrent Urja 37 marks a strategic step towards sustainable operations. By sourcing solar energy for its Gujarat facilities, the company not only strengthens its ESG commitments but also ensures long-term energy cost efficiency. This partnership underscores the increasing integration of renewable energy into mainstream industrial operations in India.

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