Aurobindo Pharma Extends Deadline For 26% Stake Buy In Solar Firm

Aurobindo Pharma Ltd. on Monday said the deadline for acquiring a 26% stake in Swarnaakshu Solar Power Pvt. Ltd. has been extended to September 30 from June 30, as it is still awaiting approval from the Telangana government.

The pharma company is investing ₹104 million in the solar firm, which is being incorporated by relatives of Aurobindo Pharma’s Vice Chairman and Managing Director, K. Nithyananda Reddy. The board had cleared the investment on February 6.