In a deal worth ₹200 crore, Nuvoco Vistas Corporation, the cement arm of Nirma Group, announced the acquisition of Vadraj Energy which owns power plants at Kutch and Surat districts of Gujarat.

In a filing with the stock exchanges on Tuesday the company stated that it has signed and executed Securities Purchase Agreement for acquisition of 100 per cent of securities of Algebra Endeavour Private Ltd — the holding company of Vadraj Energy (Gujarat) Limited — with JSW Cement Ltd, Alpha Alternatives Holdings Private Ltd and Algebra Endeavour Private Ltd. The power plants acquired through this acquisition will be utilised by Nuvoco for its captive power consumption.

After the acquisition, Algebra — engaged in the business of providing advisory services and investment activities — will become

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