J.K. Cement Limited has acquired 9.77 stake in Mehrauni Electro Power Private Limited by investing Rs 210 million and by subscribing to 2.1 million equity shares of Rs 10 each.
The investment represents a 9.77 per cent equity stake in the special purpose vehicle (SPV) and has been made pursuant to a power purchase agreement and shareholders’ subscription agreement, in line with the company’s long-term renewable energy strategy.