JK Cement has made a further investment in the equity share capital of O2 Renewable Energy V (SPV) by acquiring 46,45,658 equity shares, constituting 12.21% of the SPV’s equity share capital, from JSW Neo Energy, for a total cash consideration of Rs 5.19 crore.
Pursuant to the aforesaid acquisition, the Company’s overall shareholding in the SPV will increase from 16.76% to 28.97%. Consequently, an Amendment to the existing Share Subscription and Shareholders Agreement (SSHA) will be executed among the parties. This investment further strengthens the Company’s long-term renewable energy strategy.
JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.
