JK Cement Invests ₹4.22 Crore for 26% Stake in Renewable Energy SPV
JK Cement Limited invested ₹4.22 crore for a 26% stake in Truere Guj SPV Private Limited. This investment strengthens JK Cement's renewable energy strategy, securing 70 MWp solar power for its Nimbahera plant. The SPV is in the renewable energy sector.
The investment is significant for the company's renewable energy strategy and securing power supply, but the direct financial impact on the overall company size is moderate.
The investment is seen as positive as it aligns with the company's long-term renewable energy strategy and secures a power supply for its operations.
J. K. Cement Limited has announced an investment in the equity share capital of Truere Guj SPV Private Limited (SPV). The company subscribed to 32,76,000 equity shares of face value Rs.10/- each at a premium of Rs. 2.88 per share, aggregating to ₹4,22,21,400 (Rupees Four Crore Twenty-Two Lakh Twenty-One Thousand Four Hundred only).
This investment represents a 26% stake in the SPV, executed through a Share Subscription and Shareholders’ Agreement (SSHA). The SPV, Truere Guj SPV Private Limited, is involved in the renewable energy sector, specifically in setting up, generating, and distributing power from renewable power plants in India. This investment is in line with the Company’s long-term renewable energy strategy and is pursuant to a Power Purchase Agreement (PPA) with TGSPL and Oriana Power Limited for supplying 70 MWp solar power to JK Cement's Nimbahera plant.
As of March 31, 2025, the SPV reported NIL turnover, a PAT of -₹0.48 crore, and a net worth of ₹69.08 crore. The acquisition does not fall under related party transactions, and the transaction is undertaken at an arm's length. Truere Guj SPV Private Limited was incorporated on January 30, 2024, and is a special purpose vehicle established by Oriana Power Limited.
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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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See the model portfoliosA plain-language summary of a public exchange filing by JK Cement Limited. Read the original for the full detail.