JK Cement Limited has informed the Exchange about Acquisition
JKCEMENT · price
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JK Cement Limited has invested Rs. 4.22 crore to acquire a 26% equity stake in Truere Guj SPV Private Limited (TGSPL), a special purpose vehicle incorporated in January 2024. TGSPL is setting up a 50/70 MWp peak solar power plant in Rajasthan under a Captive User model. Under a Power Purchase Agreement, this solar power will be supplied to JK Cement's Nimbahera plant. The transaction is a cash consideration and is not a related party transaction, done at arm's length. This investment strengthens JK Cement's long-term renewable energy strategy.
This acquisition supports JK Cement's shift toward renewable energy for captive consumption, potentially reducing long-term power costs and carbon footprint. The 26% stake represents a minority investment in a newly incorporated SPV with no prior revenue.