JK Cement has made a strategic investment in Truere Guj SPV Private Limited, acquiring 32,76,000 equity shares at a total cost of ₹4,22,21,400. This investment represents a 26% stake in the SPV, aligning with JK Cement‘s renewable energy strategy.
The investment was executed through a Share Subscription and Shareholders’ Agreement, with each share having a face value of ₹10 and a premium of approximately ₹2.88. The transaction, confirmed on April 27, 2026, is a cash consideration and does not involve any related party transactions.
Truere Guj SPV operates in the renewable energy sector, focusing on setting up, generating, and distributing power from renewable sources in India. The SPV is currently working on a project to establish a 70 MWp solar power plant in Rajasthan, in collaboration with Oriana Power Limited. This facility is expected to supply solar power to JK Cement’s Nimbahera plant.
Financially, Truere Guj SPV reported a net worth of ₹69.08 crore as of March 2025, with no turnover and a loss of ₹0.48 crore. The SPV was incorporated in January 2024 and is based in Uttar Pradesh.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).