UltraTech Cement to Pick Up 26% Stake in Solar Power firm AMPIN C&I Power for ₹25.5 Crore

UltraTech Cement Limited has entered into an agreement to acquire 26% equity in AMPIN C&I Power Eight Private Limited. The deal is valued at up to ₹25.5 crore and will be completed through a cash transaction. The company has signed an Energy Supply Agreement as well as a Share Subscription and Shareholders Agreement.

As of 9:27 AM on April 17, 2025, UltraTech Cement share price was trading at ₹11,633, a 0.81% down, having gained 6.57% over the past six months and 25.13% over the past year.

Purpose of the Investment

The acquisition is to support UltraTech’s captive power needs using renewable energy. It is also aimed at bringing down power costs and meeting requirements under electricity laws related to captive consumption.

About the Project

AMPIN C&I Power Eight was incorporated on January 29, 2025. It is a special-purpose vehicle set up to build a solar power project with a capacity of 75 MWp DC / 50 MW AC. The project is located in Village Sindhari, Balotra district, Rajasthan. The SPV is focused on solar energy generation and transmission and currently does not have any financial history as it is a newly incorporated entity.

The registered office of the target company is in Saket, New Delhi. The upcoming solar project will function as a captive power source. No foreign presence or historical turnover is associated with the SPV.

Regulatory and Transaction Structure

The acquisition does not involve any related parties, and there is no promoter group interest in the target entity. The stake buy is expected to close within 180 days from the date of agreement execution.

Company Overview

UltraTech Cement is part of the Aditya Birla Group. It operates with a consolidated grey cement capacity of 183.06 million tonnes per annum. The company is involved in manufacturing and distribution of cement and building solutions across several markets.

Conclusion

UltraTech Cement’s acquisition of a minority stake in a solar SPV is intended to secure renewable energy for captive use. The transaction is expected to be finalised within the agreed timeframe.

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