JK Cement invests ₹4.22 Cr for 26% stake in Truere Guj SPV

JK Cement Limited has made a strategic investment of ₹4,22,21,400 in Truere Guj SPV Private Limited, subscribing to 32,76,000 equity shares. This represents a 26% equity stake in the Special Purpose Vehicle (SPV). Truere Guj SPV, incorporated in January 2024 by Oriana Power Limited, operates in the renewable energy sector, focusing on setting up, generating, and distributing power from renewable plants in India. The investment aligns with JK Cement's long-term renewable energy strategy and is linked to a Power Purchase Agreement/Shareholder Subscription Agreement. The SPV is establishing a 50/70 MWp solar power plant in Rajasthan, which will supply 70 MWp solar power to JK Cement's Nimbahera plant. The transaction is not a related party transaction and was conducted at arm's length. Truere Guj SPV reported NIL turnover for FY2024-25 and a PAT of -₹0.48 crore.