JK Lakshmi Cement Limited has informed the Exchange about Acquisition of 26% in Equity Shares of Special Purpose Vehicles (SPVs) i.e. DynoSpark Private Limited for purchase of solar power under the applicable captive power route.
JKLAKSHMI · price
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JK Lakshmi Cement has informed the stock exchange that it is acquiring a 26% equity stake in DynoSpark Private Limited, a Special Purpose Vehicle (SPV) set up for solar power generation. The acquisition is being made under the captive power route, meaning the company will source solar power from this SPV to meet part of its energy needs. Acquiring 26% appears to align with regulatory norms under India's captive open access rules, which require generating companies and consumers to share equity for captive power status. This move indicates a push towards renewable energy and reducing dependence on conventional power for cement manufacturing, which is energy-intensive.
This is a routine captive power compliance transaction rather than a large strategic acquisition, so immediate impact on stock price may be limited. However, it signals the company's commitment to green energy and could help reduce long-term power costs.