Biocon Invests Rs 5.47 Crore in Solar Power SPV to Advance Renewable Energy Goals
New Delhi: Biocon Limited has acquired an equity stake in Ampin C&I Power Twelve Private Limited (AMPIN), a special purpose vehicle established for the generation and supply of solar power, as part of its efforts to increase renewable energy consumption and advance its sustainability goals.
The company informed stock exchanges that it has invested Rs 5.47 crore towards the subscription of 54.76 lakh equity shares of AMPIN. The allotment of these shares is expected to be completed in due course. Following the investment, Biocon will hold 59.76 lakh equity shares, representing 37.77% of AMPIN's paid-up share capital on an undiluted basis. However, after the proposed investment by other entities in AMPIN, Biocon's stake will reduce to 15.91% on a fully diluted basis, in accordance with the terms of the agreements entered into by the company.
AMPIN, incorporated on April 23, 2025, operates in the renewable energy generation sector and plans to establish a solar power plant with a capacity of 27.12 MW (DC) in Karnataka. The company had a net worth of Rs 120.78 million as of March 31, 2026. Being a newly incorporated entity, it reported no turnover during FY 2025-26 and recorded a loss after tax of Rs 1.28 million.
According to Biocon, the acquisition is aimed at enhancing renewable-based power consumption while maintaining captive status under the Electricity Act through the Power Purchase Agreement and Share Purchase, Subscription and Shareholders Agreement executed with AMPIN. The company stated that the investment aligns with its renewable energy objectives and supports its decarbonisation strategy.
Biocon said the move will facilitate the procurement of green energy, help reduce energy costs and lower its carbon footprint. The company also clarified that the acquisition does not qualify as a related-party transaction and that neither its promoters nor promoter group entities have any interest in AMPIN.
In its regulatory filing to the BSE and NSE, Biocon stated that the acquisition forms part of its broader renewable energy strategy and commitment to sustainable operations.
The consideration for the transaction is entirely in cash, with Biocon subscribing to equity shares of face value Rs 10 each at par. No governmental or regulatory approvals are required for the acquisition, according to the company.
