Vodafone Idea (IDEA) is acquiring a 26% stake in Aditya Birla Renewables SPV 3 (ABRen SPV 3) for Rs. 1.56 Cr.

This strategic move aims to establish a captive solar power plant in Maharashtra, allowing IDEA to secure cost-effective renewable energy and ensure regulatory compliance.

ABRen SPV 3, currently with no turnover, is focused on setting up this plant.

The acquisition, a related-party transaction, has been approved and is executed at arm's length.

This helps IDEA optimize its energy costs.