Nuvoco Vistas, India’s trusted building materials company, has announced the acquisition of Vadraj Energy (Gujarat) in a strategic move to enhance its captive power capabilities. The transaction has been executed through a Securities Purchase Agreement for the acquisition of 100% of the securities of Algebra Endeavour Private Ltd., the holding company of Vadraj Energy (Gujarat).
Vadraj Energy (Gujarat), a wholly owned subsidiary of Algebra Endeavour, owns and operates power plants in Kutch and Surat. These assets will bolster Nuvoco’s captive power infrastructure, improve energy reliability, and support operational efficiency across its manufacturing facilities.
The total acquisition consideration is up to ₹200 crore, comprising ₹191.63 crore payable to JSW Cement Limited and ₹8.37 crore payable to Alpha Alternatives Holdings Private Limited, as stipulated in the Securities Purchase Agreement.
The transaction is expected to conclude within 10 days of fulfilling all conditions precedent outlined in the Agreement. Upon completion, Algebra Endeavour Private Ltd., currently engaged in advisory and investment activities, will become a wholly owned subsidiary of Nuvoco, granting the company direct ownership of Vadraj Energy’s assets and operational capabilities.
With this acquisition, Nuvoco reinforces its long-term vision of building a Safer, Smarter, and Sustainable World, underscoring its commitment to execution excellence and future-ready growth.