Avyan Renewable buys 31% stake in solar installer SunEdison Infrastructure

Avyan Renewable Solar’s acquisition in SunEdison Infrastructure was reduced. The company will now acquire 13,91,896 equity shares representing 31% of the equity share capital of SunEdison.

Initially, the share purchase agreement was signed with SunEdison Infrastructure Limited (formerly YKM Industries Limited) to acquire 16,83,713 equity shares representing 37.50%.

However, all other terms and conditions of the agreement will remain the same.

The open offer to the public equity shareholders of SunEdison Infrastructure Limited opened on September 19, 2019, and closed on October 03, 2019.

SunEdison Infrastructure Limited, a Chennai-based company, works as an installer of solar water pumps, rooftop solar, among other service offerings.