JK Tyre Approves Rs. 1.31 Crore Investment in Roofsol Renewables for Captive Power
JK Tyre & Industries Limited has approved an investment of up to Rs. 1.31 Crore to acquire 26% equity shares in Roofsol Renewables Five Pvt. Ltd. (RRFPL). The investment aims to ensure the company's compliance with regulatory requirements for captive power consumption under Indian Electricity laws.The Board of Directors approved the acquisition of the stake during a meeting held on April 15, 2026. JK Tyre plans to acquire and maintain a minimum 26% stake in RRFPL throughout the duration of the Power Purchase Agreement, Share Subscription, and Shareholders Agreement.
Transaction and Acquisition Details
The acquisition involves a cash consideration of Rs. 1.31 Crore for the stake in RRFPL. The transaction is expected to be completed within a period of 180 days.Key details regarding the acquisition are summarized below:
| Particulars | Detail |
|---|---|
| Company Initiating Investment | JK Tyre & Industries Limited |
| Target Entity | Roofsol Renewables Five Pvt. Ltd (RRFPL) |
| Acquisition Stake | Minimum 26% equity shareholding |
| Consideration | Cash Consideration |
| Cost of Acquisition | Rs. 1.31 Crore |
| Timeline | Within 180 days |
Profile of Roofsol Renewables Five Pvt. Ltd
RRFPL, located in India, was incorporated on April 1, 2025. The entity operates in the Power Generation using solar energy sector. RRFPL is a wholly owned subsidiary of Roofsol Energy Pvt. Ltd. The SPV was established specifically for the purpose of setting up a captive power plant at the Company's Laksar Tyre Plant in Uttarakhand.The Company confirmed that the acquisition does not fall within a related party transaction, as the promoter or promoter group does not hold any interest in the acquired entity.
JKTYRE Stock Price Movement
Today, JK Tyre & Industries Limited shares edged higher, settling at ₹424.5 after gaining 0.94% for the session. The stock saw solid investor interest, with trading volumes reaching 1.17 million shares.Source:
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