JK Cement Invests ₹2.81 Crore in Renewable Energy Special Purpose Vehicle

JK Cement Limited has announced a strategic investment in renewable energy infrastructure through its acquisition of equity shares in Truere Current Private Limited. The cement manufacturer disclosed this development in a regulatory filing on April 29, 2026, highlighting its commitment to sustainable energy solutions.

Investment Details

The company has invested ₹2,81,45,490 to acquire a 26% stake in Truere Current Private Limited, a special purpose vehicle focused on renewable energy projects. The investment structure includes the following parameters:

Parameter: Details Number of Shares: 21,84,000 equity shares Face Value: ₹10 per share Premium: ₹2.88 per share Total Investment: ₹2,81,45,490 Stake Acquired: 26%

Target Company Profile

Truere Current Private Limited operates as a special purpose vehicle established by Oriana Power Limited for developing renewable energy infrastructure. The company was incorporated on April 15, 2024, under the Companies Act, 2013, with CIN U43222UP2024PTC201083. Its registered office is located at 202-203 Udyog Kendra, Ext.-II Bisrakh, Gautam Buddha Nagar, U.P.201306.

The target company's financial position as of March 31, 2025, reflects its early-stage operations:

Financial Metric: Amount (₹ Crore) Turnover: NIL PAT: -0.37 Networth: 35.93

Solar Power Project Details

The investment is connected to a comprehensive solar power initiative that will benefit JK Cement's operations. The project encompasses several key components:

Capacity: 40 MWp solar power generation

Location: Tehsil Bap, District Phalodi, Rajasthan

Beneficiary Plant: JK Cement's Gotan manufacturing facility

Technology: Battery Energy Storage System (BESS) for efficient energy management

The Battery Energy Storage System represents a significant technological advancement, enabling efficient energy management through storage of surplus power generated by the solar installation.

Strategic Rationale

JK Cement's management has indicated that this investment aligns with the company's long-term renewable energy strategy. The acquisition is structured through a Power Purchase Agreement and Share Subscription and Shareholders' Agreement, ensuring a comprehensive framework for the partnership.

The transaction is characterized as an arm's length deal, with no related party involvement. The promoter group and group companies have no existing interest in the special purpose vehicle, maintaining transparency in the investment structure.

Transaction Structure

The investment represents a cash consideration transaction, completed through the execution of formal agreements. The company received confirmation of the investment completion on April 29, 2026, at approximately 1:30 PM. No governmental or regulatory approvals were required for this acquisition, streamlining the transaction process.

J.K. Cement Limited has been declared the preferred bidder for the mining lease of Karunda Limestone Block-I in Chittorgarh, Rajasthan, following an e-auction conducted by the Government of Rajasthan. The company disclosed this development under Regulation 30 of SEBI regulations.

Mining Lease Details

The Karunda Limestone Block-I spans over an area of 35.98 hectares and is strategically located in Chittorgarh, Rajasthan. The company received official notification of its preferred bidder status on April 22, 2026 at around 2:09 PM (IST).

Mining Block Details: Information Block Name: Karunda Limestone Block-I Location: Chittorgarh, Rajasthan Area: 35.98 hectares Status: Preferred Bidder Resource Type: Limestone

Regulatory Compliance

J.K. Cement Limited made the disclosure pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also uploaded this information on its official website at www.jkcement.com for stakeholder access.

Strategic Significance

The preferred bidder designation represents a significant step in J.K. Cement's resource acquisition strategy. Limestone serves as a primary raw material in cement manufacturing, making this mining lease strategically important for the company's operational requirements and supply chain management.

Securing limestone mining rights provides J.K. Cement with enhanced control over raw material sourcing and costs, which are critical factors in cement production operations. The Karunda Limestone Block-I acquisition supports the company's efforts to strengthen its resource base and operational efficiency across its manufacturing network.

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