Kalyani Steels Ltd to Acquire 8.64% Stake in Clean Renewable Energy KK 1A Private Limited for Rs.51,900,000

Kalyani Steels Ltd, a part of the Kalyani Group, has announced its intention to acquire 8.64% stake in Clean Renewable Energy KK 1A Private Limited. The acquisition is valued at Rs.51,900,000 and will be made through a cash consideration. Clean Renewable, incorporated in 2023, is engaged in the generation of electricity and is based in New Delhi, India. The company has not generated any turnover for FY 2023-24 and FY 2024-25. This acquisition is aimed at sourcing power through captive renewable energy sources under the group captive scheme as per the Electricity Act, 2003 and applicable rules thereunder. No governmental or regulatory approvals are required for the acquisition.