Key Transaction Details

J.K. Cement Limited (the Company) is making a further investment in the equity share capital of Mehrauni Electro Power Private Limited (MEPPL or the SPV). The investment involves subscribing to 49,08,750 equity shares at a face value of ₹10 per share, aggregating to ₹4,90,87,500 (Rupees Four Crore Ninety Lakhs Eighty-Seven Thousand Five Hundred only). This investment will represent 18.31% of the equity share capital of SPV post-allotment.

The transaction is pursuant to the execution of a Second Supplementary Shareholders' Agreement (SSHA).

The date and time of the event occurrence is stated as July 29, 2026 at around 3:00 p.m. (IST).

Details of the Target Entity (Mehrauni Electro Power Private Limited - MEPPL)

  • Industry: Renewable energy - setting up, generating, and distributing power from Renewable power plants in India.
  • Incorporation Date: 2023 (Incorporated under the Companies Act, 2013)
  • Financial Parameters as of March 31, 2025:
  • Turnover: Nil
  • PAT: (₹0.13 crore)
  • Networth: (₹0.13 crore)
  • Historical Turnover:
  • FY 2024-25: Nil
  • FY 2023-24: Nil
  • FY 2022-23: NA (Entity was incorporated in 2023)

Background and Purpose of Acquisition

MEPPL is a special purpose vehicle (SPV) established by Onward Solar Power Private Limited. It is currently establishing a 40 MW AC capacity solar power plant at Village-Bihariya, Tehsil-Bara, Prayagraj-District, Uttar Pradesh. The plant is being developed on a Group Captive model envisaged under the Electricity Laws.

The object of the investment is pursuant to a Power Purchase Agreement (PPA) and Shareholder Subscription Agreement. It aims to strengthen the Company's long-term renewable energy strategy by securing a supply of solar power for its Prayagraj plant.

Transaction Specifics

  • Related Party Status: The acquisition does not fall under a related party transaction. The promoter/promoter group/group companies of J.K. Cement have no interest in the SPV.
  • Arm's Length: The transaction is confirmed to be undertaken at arm's length.
  • Consideration Type: Cash consideration.
  • Governmental Approvals: Not applicable for this acquisition.
  • Time Period for Completion: Not applicable.