Century Enka to acquire additional stake in ABREL Century Energy
6th Dec 2022

Century Enka has applied for an additional 66,89,800 equity shares by way of right issue of ABREL Century Energy (ABRELCEL), a Special Purpose Vehicle (‘SPV'). The acquisition is required to maintain minimum 26% of the equity shares of the Power Producer to qualify as a Captive User of the Power Producer as per the provisions of the Electricity Act, 2003 read with Electricity Rules, 2005.

ABRELCEL was incorporated on March 10, 2022 as a SPV for the purpose of setting up of captive power projects i.e., electric power generation through wind & solar.

Century Enka (CEL) has emerged a reputed producer of high quality Nylon Tyre Cord Fabric (NTCF) used as reinforcement material in bias tyres and Nylon Filament Yarn (NFY) used mainly by apparel industry.