J.K. Cement Limited has strategically acquired a 26% stake in Truere Guj SPV Private Limited for Rs. 4.22 crore. This investment is part of a Power Purchase Agreement designed to secure sustainable energy for the company’s Nimbahera plant. By leveraging a 70 MWp solar power project, the firm aims to bolster its long-term renewable energy strategy and enhance its operational sustainability footprint.
Investment Overview
J.K. Cement Limited has officially completed the acquisition of 32,76,000 equity shares of Truere Guj SPV Private Limited. The transaction, valued at Rs. 4,22,21,400, represents a 26% stake in the special purpose vehicle. The shares were acquired at a face value of Rs. 10 with a premium of Rs. 2.88 per share.
Strategic Rationale
This investment is aligned with J.K. Cement’s commitment to transitioning toward cleaner energy sources. The capital injection is directed toward the development of a 70 MWp solar power plant located in Tehsil Bap, District Phalodi, Rajasthan. The project is being developed under a Captive User model, specifically established to supply renewable energy to the company’s cement manufacturing unit in Nimbahera, Rajasthan.
Project Details
The investee company, Truere Guj SPV Private Limited, was incorporated on January 30, 2024. As of the financial year ended March 31, 2025, the entity reported a net worth of Rs. 69.08 crore. This collaboration with Oriana Power Limited marks a significant step in the company’s efforts to reduce its carbon footprint through the utilization of dedicated renewable energy infrastructure.
Source: BSE
