India Cements530005Stake acquisition deal
Acquisition of 3.62% equity share capital of Zenataris Renewable Energy Private Limited
India Cements has signed Energy Supply and Share Subscription and Shareholders Agreements to acquire 3.62% equity in Zenataris Renewable Energy.
By ScoutQuest · · 2 min read
3.62%Equity shareholding to be acquired
- Equity Investment
- up to Rs. 20,90,00,000
- Equity Stake Acquired
- 3.62% equity shares of Zenataris Renewable Energy Private Limited
- Renewable Energy Supply
- 11 MW on a group captive basis
What the company announced
- India Cements has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement to acquire 3.62% equity shares of Zenataris Renewable Energy Private Limited.
- The purpose stated is meeting the company's green energy needs, optimising energy cost and complying with regulatory requirements for captive power consumption under electricity laws.
- The consideration is a cash consideration, and the structure is a proposed acquisition of a minority equity stake.
Deal size and timeline
- Equity investment of up to Rs. 20,90,00,000 (Rupees Twenty Crore and Ninety Lakhs Only).
- Shareholding acquired: 3.62%.
- Indicative time period for completion: within 120 days from the execution of the Energy Supply Agreement and the Share Subscription and Shareholders Agreement.
About the target entity
- Zenataris Renewable Energy Private Limited is registered at Plot No. 327, Road No. 25, Jubilee Hills, Hyderabad, Telangana, and was incorporated on 9th October 2018.
- It is described as a Special Purpose Vehicle established for the development and operation of an Inter-State Transmission System (ISTS) hybrid renewable energy project located at Kudligi, Vijayanagara District, Karnataka.
- The SPV will supply 11 MW renewable energy to the cement plants of the Company on a group captive basis, in accordance with the Electricity Act, 2003 and rules and regulations framed thereunder.
- Turnover of the target (Rs. in Lacs): FY 24 -; FY 25 -; FY 26 7,782.08. Country of presence: India.
Other points disclosed in the annexure
- Industry of the target: generation and transmission of renewable energy (hybrid power).
- The proposed acquisition is not a related party transaction, and the promoter / promoter group / group companies have no interest in the entity being acquired.
How a shareholder can read this
- This is an equity stake in a power-generating SPV that is meant to serve the company's own plants on a group captive basis, so the link to the business is on the energy cost and captive power compliance side.
- The outlay stated is up to Rs. 20,90,00,000, in cash, for a 3.62% stake, with the transaction expected to be completed within 120 days of the agreements.
- The target's turnover for FY 26 is shown as 7,782.08 (Rs in Lacs) in the update.
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More numbers
- Equity investment (up to)Rs. 20,90,00,000/-
- Equity shareholding to be acquired3.62%
- Target turnover FY 26 (Rs in Lacs)7,782.08
- Renewable energy supply to cement plants11 MW
- Indicative time period for completion120 days
Source: BSE · 15 Oct 2026
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