JK Cement invests 2.10 Cr for 9.77% stake in Mehrauni Electro Power

JK Cement Limited has invested 2.10 crore in Mehrauni Electro Power Private Limited (MEPPL) by subscribing to 21 lakh equity shares of 10 each, acquiring a 9.77% equity stake. MEPPL is a Special Purpose Vehicle (SPV) incorporated in 2023, focused on renewable energy, specifically establishing a 40 MW AC solar power plant in Uttar Pradesh. This investment aligns with JK Cement's long-term renewable energy strategy and is pursuant to a Power Purchase Agreement/Shareholder Subscription Agreement, under which MEPPL will supply 7 MWp solar power to JK Cement's Prayagraj plant. The transaction was conducted at arm's length and is not a related party transaction. As of March 31, 2025, MEPPL reported nil turnover and a net worth of ( 0.13 crore).