Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015
Acquisition Details
- Target Entity: FPEL Services Private Limited
- Business Activity: Generation and transmission of renewable energy (wind power)
- Investment Amount: Up to ₹10,78,00,000 (Rupees Ten Crore Seventy Eight Lakh Only)
- Stake Acquired: 12.48% equity shareholding
- Consideration Type: Cash consideration
Purpose and Rationale
The acquisition is undertaken to:
- Meet the company's green energy needs
- Optimize energy costs
- Comply with regulatory requirements for captive power consumption under electricity laws
Target Company Background
- Date of Incorporation: 14th December 2022
- Business Model: Special purpose vehicle (SPV) that will supply 14 MW AC wind power to India Cements' plants in Tamil Nadu on captive basis
- Project Location: Wind project located at Karur village in Tamil Nadu
- Turnover (last three years): Nil (Rs. in crores)
- Country of Operation: India
Transaction Specifics
- Related Party Status: Not a related party transaction. Promoter/promoter group/group companies have no interest in the acquisition.
- Government Approvals: No governmental or regulatory approvals required mentioned
- Completion Timeline: Within 180 days from the execution of Energy Supply Agreement and Share Subscription and Shareholders Agreement
Additional Information
- Disclosure made to BSE Limited and National Stock Exchange of India Limited
- Copy also sent to Luxembourg Stock Exchange
- Digitally signed by Krishnagopal Ladsaria, Chief Financial Officer, on 10th June 2026 at 18:59:58 +05:30