Target Entity: Zenataris Renewable Energy Private Limited
Type of Deal: Minority acquisition (3.62% equity stake)
Stake/Capacity: 3.62% equity stake. The SPV will supply 11 MW renewable energy to the cement plants of the Company on a group captive basis.
Deal Value: Equity investment of up to ₹20,90,00,000 (Rupees Twenty Crore and Ninety Lakhs Only)
Funding Source: Cash consideration
Financial Impact: Not explicitly disclosed beyond the investment amount. The target company reported turnover of ₹7,782.08 lacs for FY26, with no turnover reported for FY24 and FY25.
Timeline: Expected completion within 120 days from the execution of Energy Supply Agreement and Share Subscription and Shareholders Agreement
Strategic Rationale: To meet the company's green energy needs, optimize energy costs, and comply with regulatory requirements for captive power consumption under electricity laws. The acquisition supports the company's energy strategy through a hybrid renewable energy project.
Approval Status: Transaction has been executed through Energy Supply Agreement and Share Subscription and Shareholders Agreement. No governmental or regulatory approvals are indicated as required.
Additional Details:
Not a related party transaction
Promoter/promoter group/group companies have no interest in the acquisition
