Carborundum Universal Limited has completed the acquisition of a 29.58% equity stake in Putrim Renewables Private Limited for Rs 6.48 crore. The transaction was executed under a Share Subscription and Shareholders' Agreement entered into with CSE Development (India) Private Limited and PRPL. Carborundum Universal is now a minority shareholder in the renewable energy company. The stake was acquired through a subscription to equity shares of PRPL.
The acquisition follows an earlier communication on 10th April 2026 regarding the execution of a Power Purchase Agreement between Carborundum Universal and PRPL. The PPA was the initial step in establishing the energy partnership between the two entities. The equity investment deepens this relationship and provides Carborundum Universal with a direct stake in the renewable energy firm.
PRPL is a company operating in the renewable energy sector. Carborundum Universal's investment will provide access to renewable power for its manufacturing operations. The Rs 6.48 crore investment secures a minority stake in PRPL. The consideration has been fully paid as part of the transaction completion.
CSE Development (India) Private Limited is also a party to the Share Subscription and Shareholders' Agreement. The stake acquisition was completed effective 27th May 2026. Carborundum Universal disclosed the acquisition to both BSE and NSE under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Carborundum Universal Limited is a manufacturer of abrasives, ceramics, and industrial products with a diversified product portfolio spanning multiple industrial segments. The investment in PRPL adds a renewable energy component to Carborundum Universal's operations. Carborundum Universal's manufacturing facilities will benefit from access to renewable power through this investment.
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.