Dalmia Cement Bharat to acquire 41% stake in Oyster Green Hybrid for Rs 17.35 crore

Arunika Jain — Wed, 29 Apr 2026 16:49:16 +0000

Dalmia Cement (Bharat) Limited (DCBL), a wholly owned subsidiary of Dalmia Bharat, has announced its decision to acquire a 41% stake in Oyster Green Hybrid Five Private Limited. The acquisition, valued at approximately ₹17.35 crore, involves a Share Subscription and Shareholders’ Agreement (SSSHA) and a Power Consumption Agreement (PCA) signed on April 29, 2026.

The acquisition will be executed in one or more tranches, with DCBL acquiring 26% on a fully-diluted basis. Oyster Green Hybrid Five Private Limited is a Special Purpose Vehicle (SPV) of Oyster Renewable Energy Private Limited. The purpose of this acquisition is to source hybrid power, consisting of 21.6 MW of wind energy and 14 MWp of solar energy, as a captive consumer for DCBL’s plant in Kadapa, Andhra Pradesh.

This strategic move aligns with Dalmia Bharat’s commitment towards achieving RE 100 by 2030 and becoming carbon negative by 2040. The hybrid power sourced will qualify as captive consumption under the Electricity Act and Rules, further enhancing the company’s renewable energy portfolio.

The acquisition is not classified as a related party transaction, and neither the promoter group nor the group companies have any interest in the entity being acquired. The transaction is expected to be completed within four months, subject to customary conditions precedent.

Oyster Green Hybrid Five Private Limited, incorporated on June 5, 2025, is based in Mumbai, Maharashtra, and focuses on setting up hybrid power projects on a captive basis in Andhra Pradesh. As the company was incorporated during FY 2025-26, its turnover for the last three years is not applicable.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Oyster Green Hybrid Five | Business Upturn

Dalmia Cement Bharat to acquire 41% stake in Oyster Green Hybrid for Rs 17.35 crore