Consequently, Ramco Windfarms has now become a wholly-owned subsidiary of Ramco Cements, the company said in a filing with the stock exchange.
These shares were acquired from `related parties’ such as Rajapalayam Mills Limited, Sri Vishnu Shankar Mill Limited, Ramaraju Surgical Cotton Mills Ltd., Sandhya Spinning Mills Limited and Rajapalayam Textile Limited.
Ramco Windfarms is engaged in electric power generation through windmills, transmission and distribution.
Ramco Cements had acquired 28,50,000 equity shares (28.5%) from these companies. Consequently, it now holds 100 % of the capital of Ramco Windfarms (comprising 1,00,00,000 equity shares of Rs. 1 each).
