Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
JSL · price
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Jindal Stainless has acquired a 33.64% equity stake in Oyster Green Hybrid One Private Limited, a special purpose vehicle set up with Oyster Renewable Energy, for ₹79.20 crores as part of a total commitment of ~₹132 crores. The SPV will develop a 282 MW inter-state wind-solar hybrid captive renewable energy project to power the company's plants, expected to supply ~700 million units annually and deliver significant savings versus grid power. The project is targeted for commissioning by Q3 of FY 2025-26. Oyster Renewable Energy is a related party due to a common promoter group, but the transaction is being carried out at arm's length, and no regulatory approvals are required.
Positive for shareholders in the medium to long term — captive renewable power should lower electricity costs, reduce carbon footprint, and align with the company's net-zero-by-2050 goal. However, investors should note the related-party nature of the counterparty and the multi-stage ₹132 crore commitment tied to project milestones.