JK Cement Invests ₹2.81 Crore for 26% Stake in Truere Current Private Limited
JK Cement Limited invested ₹2.81 crore for a 26% stake in Truere Current Private Limited (SPV). The SPV is developing a Battery Energy Storage System (BESS) for a 40 MWp solar power project. This investment supports JK Cement's renewable energy strategy.
The investment amount is significant for a strategic initiative, indicating a medium-term impact on the company's renewable energy goals and operational efficiency.
The investment in a renewable energy SPV aligns with the company's long-term strategy and supports its energy needs, indicating a positive development.
JK Cement Limited (the Company) has announced an investment in the equity share capital of Truere Current Private Limited (SPV). The Company subscribed to 21,84,000 equity shares of face value ₹10 each at a premium of ₹2.88 per share, aggregating to ₹2,81,45,490 (Rupees Two Crore Eighty One Lakh Forty Five Thousand Four Hundred Ninety only).
This investment represents a 26% stake in the SPV, achieved through the execution of a Share Subscription and Shareholders’ Agreement (SSHA). The SPV, Truere Current Private Limited, was incorporated on April 15, 2024, and is a special purpose vehicle established by Oriana Power Limited. It is focused on developing a Battery Energy Storage System (BESS) as part of a solar power plant.
This strategic investment aligns with JK Cement's long-term renewable energy strategy and is linked to a Power Purchase Agreement (PPA) with TCPL and Oriana for supplying 40 MWp solar power to the Company's Gotan plant. The acquisition does not involve related parties and is conducted at arm's length. As of March 31, 2025, Truere Current Private Limited reported NIL turnover and a net worth of ₹35.93 crore, with a PAT of -₹0.37 crore.
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JK Cement Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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