Investment Details
Target Entity: CIL Rajasthan Akshay Urja Limited (CRAUL)
Entity Type: Joint venture between Coal India Limited (CIL) and Rajasthan Rajya Vidyut Urja Nigam Limited (RVUNL)
Paid-up Capital: ₹10,00,000 (Rupees Ten Lakh only)
- CIL Contribution: ₹7,40,000
- RVUNL Contribution: ₹2,60,000
Industry: Renewable Energy
Date of Incorporation: 09 June 2025
Transaction Specifics
Consideration Type: Cash consideration for subscription of Equity Share Capital
Investment Amount:
- CIL: ₹22,20,000 for 222,000 equity shares @ ₹10 each
- RVUNL: ₹7,80,000 for 78,000 equity shares @ ₹10 each
Completion Timeline: 30 days from the date of opening of Rights issue
Post-Investment Shareholding:
- CIL: 74%
- RVUNL: 26%
Business Purpose and Impact
The investment supports CRAUL's business objectives to develop, construct and operate:
- Solar power projects
- PSP (Pumped Storage Power) projects
- Wind power projects
- Other mutually agreed renewable energy projects
The company will undertake business of selling power generated from these projects to RVUNL under Section 62 of Electricity Act, 2003, or to other entities as mutually agreed. The power may be supplied to state DISCOMs, other DISCOMs, third parties, open market, and C&I customers anywhere in India with mutual consent.
Additional Information
Related Party Transaction: No
Turnover History: Not applicable (company recently incorporated)
Geographic Presence: India exclusively
Size/Turnover: NIL (as of disclosure date)
The disclosure was signed by Bijay Prakash Dubey, Executive Director (Company Secretary) & Compliance Officer of Coal India Limited.