DCM Shriram acquires 26% in Serentica Renewables unit for Rs 104 cr
DCMSHRIRAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
DCM Shriram signed a definitive agreement to acquire a 26% equity stake in Serentica Renewables India 38 Pvt Ltd for Rs 104.4 crore in cash, in tranches. This secures 58 MW peak (36 MW round-the-clock) renewable power for its Bharuch plant. Total renewable capacity rises to 176 MW across Bharuch and Kota sites. Project expected by June 2027, avoiding about 0.4 million tonnes of CO2 emissions yearly. Serentica, backed by KKR, will supply solar from Rajasthan and wind from Karnataka.
Positive for long-term energy cost stability and sustainability; Rs 104 cr cash outflow in tranches, returns depend on project execution by mid-2027.