Meghmani Organics has entered into and executed an agreement with Pro-Zeal Green Power Fifteen to source a contracted capacity of 3.30 MW Wind-Solar Hybrid (WSH) Power (Project) as a Captive Consumer from the WSH power plant located in the State of Gujarat. Through this agreement, the company intended to meet its rising energy demands and commitment towards sustainability goals. Pro-Zeal Green Power Fifteen is engaged in the business of generation, transmission and maintenance of Renewable Energy.

To comply with Captive Consumer rules of Electricity Act, the company has decided to subscribe to Securities of Pro-Zeal Green Power Fifteen. In this regard, the company has proposed investment of Rs 3.63 crore, in one or more tranches, for subscription of minimum 26% Securities of Pro-Zeal Green Power Fifteen that is Equity Share Capital and Compulsory Convertible Debentures. The company and Prozeal Green Power will hold securities issued by the Pro-Zeal Green Power Fifteen in the ratio of 26:74.  Prozeal Green Energy is a Promoter of Pro-Zeal Green Power Fifteen. The subscription of securities will be completed within 6 to 9 months period.

Meghmani Organics is engaged in manufacturing and selling of pigment and agrochemicals products.