India’s Nuvoco Vistas announced the acquisition of Vadraj Energy in a strategic move to strengthen its captive power capabilities for its cement plants (Photo: Nuvoko factory). Vadraj Energy (Gujarat), a wholly owned subsidiary of Algebra Endeavour, owns and operates power plants located in Kutch and Surat. The total consideration for the acquisition is up to ₹200 crore, as per the Securities Purchase Agreement (SPA). The transaction is expected to close within 10 days from the fulfillment of all condition’s precedent outlined in the SPA.