India Cements Acquires 12.48% Stake in FPEL Services for ₹10.78 Cr

India Cements Ltd has acquired a 12.48% equity share capital in FPEL SERVICES PRIVATE LIMITED, a company involved in renewable energy generation and transmission. The acquisition, costing up to ₹10.78 crore, is aimed at meeting the company's green energy requirements, optimizing energy costs, and complying with regulatory mandates for captive power consumption. FPEL Services is a special purpose vehicle that will supply 14 MW AC wind power to India Cements' plants in Tamil Nadu. The acquisition is expected to be completed within 180 days and is not a related party transaction.