Shares of Advait Energy Transitions Ltd ended 1.30% higher after reaching a day’s high of Rs 1,840 on 13th October. The firm stated that its subsidiary, Advait Greenergy Private Ltd, signed a Memorandum of Understanding (MoU) with the Government of Gujarat in Mehsana on 10th October, as part of the Investment Promotion Activity for the Vibrant Gujarat Regional Conference.

Advait Greenergy’s MoU with the Gujarat government aims to promote investments in the state. This includes two proposed projects totalling Rs 1,450 crore.

The government will assist Advait Greenergy in obtaining all necessary permissions, approvals, and clearances. These will come from relevant departments in accordance with existing rules and policies.

The company clarified that the Gujarat government will not hold any stake in Advait Greenergy. Additionally, the agreement does not involve related-party transactions, share issuance, special rights, board appointments, or changes in the capital structure.

No loans, securities, or government nominees on the board are involved. Furthermore, there is no potential conflict of interest from this MoU.

At 3:30 PM, the shares of Advait Energy Transitions ended 1.27% higher at Rs 1,784 on BSE.