Dalmia Bharat has informed stock exchanges that its wholly owned subsidiary, Dalmia Cement (Bharat) Limited, has completed the acquisition of a 26% equity stake in TrueRE Surya Private Limited.
The acquisition was completed on January 14, 2026, pursuant to an addendum to the Share Subscription and Shareholders Agreement earlier disclosed on September 3, 2024, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dalmia Cement (Bharat) Limited has acquired 2,62,60,337 equity shares, representing 26% of the paid-up equity share capital of TrueRE Surya Private Limited, for a cash consideration of ₹42.87 crore.
TrueRE Surya Private Limited operates in the power generation sector and has been incorporated as a special purpose vehicle for setting up a captive solar power project with a capacity of up to 128 MW in Tamil Nadu. The renewable power generated from this project is intended to qualify under captive consumer norms as prescribed under the Electricity Act and applicable rules.
According to the disclosure, the transaction does not qualify as a related party transaction. The promoter or promoter group entities of Dalmia Bharat do not have any interest in TrueRE Surya Private Limited. No governmental or regulatory approvals were required for the completion of the acquisition.
TrueRE Surya Private Limited was incorporated on April 18, 2024, and has its registered office in Greater Noida, Uttar Pradesh. The company reported nil turnover for FY 2024–25. Its operations are limited to India.
