Laurus Labs obtains 26 per cent stake in Ethan Energy

Pharmaceutical and biotechnology company Laurus Labs has obtained 26 per cent equity shares in Ethan Energy by investing Rs 39 million. Et­han is an SPV of Vibrant Energy Holdings. This acquisition will allow Laurus Labs to obtain 100 per cent of the energy produced by Ethan Energy from its 10 MW solar project in captive mode under open access. Laurus has en­tered into a share subscription agreement and a shareholders agreement to purchase 740,000 equity shares with a face value of Rs 10 each at a premium of Rs 42.70.