Kalyani Steels Acquires 4.85% Stake in Clean Renewable Energy for ₹2.94 Crore

Kalyani Steels has announced the acquisition of a 4.85% stake in Clean Renewable Energy KK 1B Private Limited for ₹2.94 crore, marking a strategic move to secure captive renewable power supply for its operations under the group captive scheme as per the Electricity Act, 2003.

Strategic Investment Details

The investment transaction involves the purchase of 1,034,453 equity shares in Clean Renewable Energy KK 1B Private Limited, representing a 4.85% ownership stake in the renewable energy company. The company has entered into Share Subscription and Shareholders Agreements with the Special Purpose Vehicle of Hero Rooftop Energy Private Limited.

Investment Parameter: Details Stake Acquired: 4.85% Investment Amount: ₹2.94 crore Number of Shares: 1,034,453 equity shares Target Company: Clean Renewable Energy KK 1B Private Limited Investment Purpose: Captive renewable power supply Consideration Type: Cash

Target Company Profile

Clean Renewable Energy KK 1B Private Limited was incorporated on July 25, 2024, with its registered office in New Delhi. The company is engaged in generation and sale of energy, specifically focused on electricity generation. As a newly incorporated entity, Clean Renewable has not generated any turnover for FY 2024-25.

Company Details: Information Incorporation Date: July 25, 2024 Business Activity: Generation and sale of energy Registered Office: New Delhi FY 2024-25 Turnover: Nil Parent Company: Hero Rooftop Energy Private Limited

Regulatory Compliance

The acquisition has been structured in line with the Power Purchase Agreement and does not fall within the ambit of related party transactions. None of the promoters, promoter group, or group companies of Kalyani Steels have any interest in Clean Renewable Energy. The transaction requires no governmental or regulatory approvals for completion.

Business Impact

This strategic investment demonstrates Kalyani Steels' commitment to incorporating renewable energy solutions into its operational framework. By securing a stake in Clean Renewable Energy, the company aims to establish a dedicated power supply channel through clean energy sources under the group captive scheme, potentially reducing operational costs and supporting environmental sustainability initiatives.

Kalyani Steels Limited has announced receiving a Settlement Order from the Securities and Exchange Board of India (SEBI) dated February 23, 2026, involving the company and its Company Secretary Mrs. D.R. Puranik. The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Settlement Order Details

The Settlement Order No. SO/JS/DP2025-26/7871-7873 was issued in respect of Settlement Application No. 7872/2024 filed by Kalyani Steels Limited and Settlement Application No. 7871/2024 filed by Mrs. D.R. Puranik under the SEBI (Settlement Proceedings) Regulations, 2018. The order was received by both parties on February 23, 2026.

Alleged Violations

The settlement addresses multiple alleged violations by Kalyani Steels Limited, including:

Clause 49(VII)(D) of SEBI Circular CIR/CFD/POLICY CELL/2/2014 dated April 17, 2014 read with SEBI Circular CIR/CFD/POLICY CELL/7/2014 dated September 15, 2014 along with Regulation 103 of the LODR Regulations and Section 21 of the Securities Contracts (Regulations) Act, 1956

Regulation 23(2) of LODR Regulations read with Section 21 of SCRA

Clause 49(IV)(A)(i) of SEBI Circular SEBI/CFD/DIL/CG/1/2004/12/10 dated October 29, 2004 read with Regulation 103 of the LODR Regulations and Section 21 of the SCRA

Clause 49(VII)(E) and Clause 49(VIII)(A)(1) of various SEBI circulars along with LODR Regulations

Mrs. D.R. Puranik was alleged to have violated Regulation 6(2)(a), (b) and (c) of LODR Regulations read with Section 21 of SCRA.

Financial Impact

The settlement has resulted in specific monetary payments by both parties:

Party: Settlement Amount Kalyani Steels Limited: ₹28,022,150 Mrs. D.R. Puranik (Company Secretary): ₹9,555,000 Total Settlement Amount: ₹37,577,150

Company Statement

Kalyani Steels Limited has clarified that except for the settlement amounts paid, there are no other implications for the company arising from the Settlement Order. The complete details of the settlement order can be accessed on SEBI's official website at www.sebi.gov.in .

The disclosure was signed by Mrs. D.R. Puranik, Company Secretary, and submitted to both BSE Limited and National Stock Exchange of India Limited as required under the regulatory framework.

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