Investment9 Jul 2025, 04:41 pm
JK Tyre Invests in Solar Power Company STTY RE Ltd for Captive Power Generation
AI Summary
JK Tyre & Industries Ltd approved an investment of Rs.1.22 Crore in 26% equity shares of STTY RE Ltd to maintain group captive status. STTY, a developer of solar power projects, will put up a 5 MWp Solar Power Project under the Captive Power Route for JK Tyre. The entire Capex of approximately Rs.15.59 Crore for the Project will be met by STTY. JK Tyre would invest up to Rs.1.22 Crore representing 26% Equity Holding in STTY. This will enable JK Tyre to get Solar Power from STTY at a very competitive market rate for a period of 25 years. Consequent to the acquisition of Equity Shares, STTY would become an Associate of JK Tyre.
Key Highlights
- JK Tyre to invest Rs.1.22 Crore in STTY RE Ltd for a 26% equity holding
- STTY to set up a 5 MWp Solar Power Project for JK Tyre under the Captive Power Route
- The entire Capex of approximately Rs.15.59 Crore for the Project to be met by STTY
- JK Tyre to get Solar Power from STTY at a competitive market rate for 25 years
- STTY to become an Associate of JK Tyre post-acquisition