Dalmia Bharat Acquires 26% Stake In Truere Surya To Secure 128 MW Captive Solar Power

Dalmia Bharat Limited has taken a major step forward in its renewable energy transition by acquiring a 26% equity stake in TrueRE Surya Private Limited (Oriana Power) through its wholly owned subsidiary, Dalmia Cement (Bharat) Limited (DCBL). The acquisition, completed on January 14, 2026, involved the purchase of 2,62,60,337 equity shares for a total cash consideration of Rs. 42.87 crore. The transaction was finalized at around 11:25 am and marks a significant milestone in Dalmia Bharat’s clean energy strategy.

This development follows an earlier disclosure made on September 3, 2024, regarding a Share Subscription and Shareholders Agreement. By acquiring this stake, DCBL aims to secure a long-term and reliable source of solar power for its operations in Tamil Nadu. The agreement enables the company to act as a captive consumer for up to 128 MW of solar power capacity. This initiative supports Dalmia Bharat’s wider sustainability commitments, including its ambitious goal of achieving 100% renewable electricity (RE100) by 2030 and becoming carbon negative by 2040.

TrueRE Surya Private Limited, the company in which the stake has been acquired, is a special purpose vehicle formed to develop solar power projects on a captive basis. Although incorporated on April 18, 2024, and headquartered in Uttar Pradesh, its project activities are focused in Tamil Nadu. Being newly established, the company reported nil turnover for the 2024–25 financial year.

Dalmia Bharat also clarified that the acquisition does not fall under the category of a related party transaction. None of its promoters or related entities holds any interest in TrueRE Surya Private Limited, ensuring the deal aligns with regulatory requirements and maintains transparency. The acquisition has been undertaken in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. With this move, Dalmia Bharat reinforces its commitment to sustainable energy adoption while ensuring long-term energy security for its manufacturing operations.