Kalyani Steels announced the execution of Share Subscription and Shareholders Agreements (SSSHA) to acquire a minority stake in Clean Renewable Energy KK 1B Private Limited. The acquisition involves purchasing 1,034,453 Equity Shares for ₹29,350,000, resulting in a 4.85% equity shareholding. The primary objective of this strategic investment is to secure power sourcing through captive renewable energy for the company under group captive scheme regulations.
Strategic Investment in Renewable Energy Sector
Kalyani Steels Limited has finalized agreements to acquire a paid-up equity share capital stake in Clean Renewable Energy KK 1B Private Limited, which operates as a Special Purpose Vehicle (SPV) of Hero Rooftop Energy Private Limited. This acquisition is a strategic move aimed at fulfilling the company’s need to source power via captive renewable energy mechanisms, adhering to the guidelines set forth by the Electricity Act, 2003.
Acquisition Details and Transaction Value
The transaction, finalized on March 27, 2026, involves the acquisition of 1,034,453 Equity Shares of Clean Renewable. This purchase constitutes 4.85% of the target entity’s paid-up equity share capital. The total cash consideration paid by Kalyani Steels amounts to Rs. 29,350,000/- (Rupees Twenty Nine Million Three Hundred Fifty Thousand only).
Target Entity Profile
The acquired entity, Clean Renewable, is an entity incorporated in 2024 and is engaged in the generation and sale of Energy. For the financial year FY 2024-25, the company reported no turnover, as it is newly established. The entity currently operates solely within India, with its registered office located in New Delhi.
Compliance and Related Party Status
Kalyani Steels confirmed that this proposed acquisition does not fall within the ambit of related party transactions. Furthermore, none of the Promoters, Promoter Group, or Group Companies of Kalyani Steels have any existing interest in Clean Renewable. The acquisition is expected to be completed contingent upon the fulfillment of specific condition precedents outlined in the definitive documents.
Source: BSE
