CIAN Agro Industries & Infrastructure has converted Optionally Convertible Debentures into 12 equity shares of Manas Power Ventures Private Limited, a wholly-owned subsidiary.

The conversion amounts to Rs. 27.99 Cr, with each share valued at a premium of Rs. 2.33 Cr.

Manas Power Ventures is engaged in thermal energy and power generation.

This transaction strengthens CIAN Agro's control over its subsidiary, which was originally formed for the acquisition of Ideal Energy Projects.

This is a related party transaction but was conducted at arm's length.