JK Tyre & Industries has received approval for an investment of Rs 1.22 crore in 26% equity shares of face value of Rs 10 each of STTY RE (STTY).
The company has been exploring the possibility of putting-up the Solar Power Project with various Developers & has shortlisted STTY who have given a very competitive rate to put up a 5 MWp Solar Power Project under the Captive Power Route on behalf of the Company. The entire Capex of around Rs 15.59 crore for the Project would be met by STTY, the Developer. The Company would only be required to invest upto Rs 1.22 crore representing 26% Equity Holding in the said Company in accordance with the present Captive Power Rules. This will enable the Company 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 the company. The directors at their meeting held on July 09, 2025 has approved the same.
JK Tyre & Industries is engaged in the manufacture and marketing of automotive tyres, tubes and flaps.
| Company Name | CMP |
|---|---|
| MRF | 139281.55 |
| Apollo Tyres | 441.50 |
| CEAT | 3796.75 |
| Balkrishna Inds. | 2284.55 |
| JK Tyres & Inds. | 419.15 |
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