Biocon Limited has acquired an equity stake in Ampin C&I Power Twelve Private Limited (AMPIN), a special purpose vehicle formed for generating and supplying solar power. Biocon invested Rs 5.48 crore through subscription of 54,76,000 equity shares of AMPIN at a face value of Rs 10 per share at par.
With this investment, Biocon will hold 59,76,000 equity shares representing 37.77% of AMPIN's paid-up share capital on an undiluted basis. Following proposed investments by other entities in AMPIN, Biocon's stake will reduce to 15.91% on a fully diluted basis, as per the terms of the agreements entered by Biocon.
AMPIN is setting up a 27.12 MW (DC) solar power plant in Karnataka. AMPIN was incorporated on April 23, 2025, and reported a net worth of Rs 12.08 crore as of March 31, 2026. For financial year 2025-26, AMPIN had nil turnover and a loss after tax of Rs 0.13 crore.
Biocon will maintain its equity stake in AMPIN throughout the term of the Power Purchase Agreement and Share Purchase, Subscription and Shareholders Agreement to maintain captive status under the Electricity Act. The acquisition aligns with Biocon's renewable energy objectives and supports the procurement of green energy for its operations.
The transaction is intended to help Biocon reduce its energy costs and carbon footprint over the long term. The acquisition is not a related party transaction, and neither the promoter nor the promoter group holds any interest in AMPIN. The consideration was paid in cash, and the allotment of shares to Biocon is expected in due course.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.