The India Cements Limited announced the acquisition of a 10.76% equity stake in First Energy 8 Private Limited, a renewable energy company. The acquisition, valued up to ₹18.77 crore via equity investment, is aimed at meeting the company’s green energy needs, optimizing energy costs, and ensuring compliance with captive power regulations. First Energy 8 Private Limited is a Special Purpose Vehicle supplying 21.835 MW of wind power.
Strategic Acquisition for Green Energy Compliance
The India Cements Limited has entered into definitive agreements to acquire a 10.76% equity share capital in First Energy 8 Private Limited. This transaction, confirmed on March 16, 2026, involves a Captive Power Agreement and Share Subscription and Shareholders Agreement.
The strategic rationale for this acquisition is multifaceted, focusing on securing the company’s green energy needs, optimizing operational energy costs, and ensuring adherence to regulatory mandates concerning captive power consumption under electricity laws.
Transaction Details and Investment Value
The consideration for the acquisition is structured as a Cash consideration, representing an Equity investment of up to Rs. 18,77,44,462/- (Rupees Eighteen crore seventy-seven lakh forty-four thousand four hundred sixty-two Only).
The completion of the acquisition is expected within 180 days from the execution date of the relevant agreements.
Target Entity Profile
First Energy 8 Private Limited operates in the Generation and transmission of renewable energy sector. It was incorporated on 10th August 2023 and is positioned as a Special Purpose Vehicle (SPV).
The key asset this acquisition secures is the commitment to supply 21.835 MW wind power, which will be utilized on a group captive basis from a project located at Mondipatti, Tamil Nadu, India. The entity reported Nil turnover for the preceding two financial periods (2023-24 and 2024-25).
Regulatory Context
It is confirmed that this proposed acquisition does not constitute a related party transaction, and the promoter/promoter group companies hold no existing interest in the target entity.
Source: BSE
