Private Equity Other Private Equity/Strategic Investments
Elgi Equipments to invest Rs.1.61 Cr for 18% stake in renewable energy co. Constronics
Source Business Line (opens in a new tab)BSE Announcement (opens in a new tab)
Coimbatore-based Elgi Equipments has entered into a pact with Chennai-based Constronics Energy Solution to acquire an 18.01% stake for INR 1.61 crore.Constronics is an air compressor manufacturer. Elgi Equipments plans to use the investment to procure renewable energy over 25 years to ensure long-term tariff stability and optimise power costs.Elgi designs and produces air compressors and compressed air systems. The firm’s products power tools and machines across manufacturing, automotive, textile, mining, and construction industries.