J.K. Cement invested ₹2.1 crore for a 9.77% stake in Mehrauni Electro Power Private Limited, a renewable energy SPV.
The investment supports the company's long-term renewable energy strategy through a captive power arrangement.
The transaction is not a related party transaction and was executed at arm's length terms.
The SPV is developing a 40 MW AC solar power plant in Uttar Pradesh to supply power to J.K. Cement's Prayagraj plant.