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Meghmani Organics gains on executing agreement with Pro-Zeal Green Power Fifteen

Through this agreement, the company intended to meet its rising energy demands and commitment towards sustainability goals

Meghmani Organics is currently trading at Rs. 60.50, up by 0.25 points or 0.41% from its previous closing of Rs. 60.25 on the BSE.

The scrip opened at Rs. 60.30 and has touched a high and low of Rs. 62.18 and Rs. 60.30 respectively. So far 29429 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 106.03 on 30-Jul-2025 and a 52 week low of Rs. 57.00 on 07-Apr-2025.

Last one week high and low of the scrip stood at Rs. 63.89 and Rs. 58.61 respectively. The current market cap of the company is Rs. 1538.60 crore.

The promoters holding in the company stood at 48.98%, while Institutions and Non-Institutions held 1.37% and 49.65% respectively.

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.