INDIACEM : ACQUIRES 3.62% STAKE IN ZENATARIS RENEWABLE FOR UP TO RS 20.9 CR

• India Cements to acquire 3.62% equity share capital of Zenataris Renewable Energy Private Limited • Deal via Energy Supply Agreement and Share Subscription and Shareholders Agreement; consideration is cash • Equity investment of up to ₹20.90 Cr for the acquisition • Zenataris is an SPV for an ISTS hybrid renewable energy project at Kudligi, Karnataka, with FY26 turnover of ~₹77.82 Cr • The SPV will supply 11 MW renewable energy to India Cements' cement plants on a group captive basis • Acquisition aims to meet green energy needs, optimise energy costs and comply with captive power consumption rules • Completion expected within 120 days from execution of the agreements

The India Cements Limited

Open attachment

← Back to feed