JK Cement Limited has purchased an additional 12.21 per cent equity stake in O2 Renewable Energy V Private Limited, a special purpose vehicle of O2 Power, for approximately Rs 50 million.
This has increased JK Cement’s overall holding to 28.97 per cent. The company acquired 4,645,658 shares from JSW Neo Energy Limited at Rs 11.18 per share. Furthermore, this move supports JK Cement’s renewable energy strategy and increases its stake in a 22 MW wind project in Karnataka that supplies power to JK Cement and other users.
