Jain Resource Recycling Limited has announced a strategic move to secure its electricity supply through the acquisition of minority stakes in three wind power companies. The company's Borrowing and Investment Committee approved these acquisitions on March 30, 2026, representing a total investment of ₹74.09 lakh in renewable energy assets.

Strategic Acquisitions Overview

The acquisitions involve 26% equity stakes in three wind power companies, all established as Captive Generating Plants under Section 2(8) of the Electricity Act, 2003. This ownership percentage meets the minimum requirement prescribed under Electricity Rules, 2005 for qualifying as a captive user.

Target Company Profiles

Sea Sindu Green Energy Private Limited

Incorporated on June 12, 2015, Sea Sindu Green Energy operates as a wind power generator in the renewable energy sector. The company's financial performance over the past three years shows:

Jain Resource Recycling will acquire 2,600 shares at ₹10 each for this 26% stake.

Sri Kamakshi Wind Power Private Limited

Established on May 13, 2014, Sri Kamakshi Wind Power has demonstrated consistent growth in recent years:

The acquisition involves purchasing 1,30,000 shares at ₹10 each.

OM Sakthi Wind Power Private Limited

The oldest of the three companies, OM Sakthi Wind Power was incorporated on February 15, 2006. Its recent financial performance includes:

This acquisition requires the largest investment, involving 6,08,300 shares at ₹10 each.

Transaction Details and Compliance

All acquisitions will be completed through cash consideration, with an indicative completion timeline of March 31, 2026. The transactions do not fall within related party transactions, and no governmental or regulatory approvals are required for these acquisitions.

The company emphasized that these acquisitions are solely for captive consumption of electricity and do not constitute a diversification of Jain Resource Recycling's core business operations. The strategic move aligns with the company's operational requirements while ensuring compliance with electricity regulations for captive users.

The Borrowing and Investment Committee meeting, which approved these acquisitions, was conducted on March 30, 2026, from 04:00 PM to 05:00 PM (IST), exercising powers delegated by the Board of Directors under Section 179(3) of the Companies Act, 2013.

Jain Resource Recycling Limited has published newspaper advertisements in Form PAS-1 format across multiple publications, confirming compliance with regulatory requirements for its ongoing postal ballot process. The company submitted these advertisements to stock exchanges under Regulation 30 of SEBI Listing Regulations on March 28, 2026.

Regulatory Compliance and Advertisement Publication

The company published Form PAS-1 advertisements in three newspapers on March 28, 2026, seeking shareholder approval for variation in IPO proceeds utilization. The publications include:

The advertisements are hosted on the company's website at https://www.jainmetalgroup.com/information-published-newspapers.php , ensuring broader accessibility for stakeholders.

IPO Proceeds Deviation Details

The Form PAS-1 advertisement specifically addresses the deviation in utilization of ₹540.00 million from the "General Corporate Purposes" allocation of IPO proceeds. This amount was inadvertently used for repayment of unsecured loans from promoter-directors, requiring special resolution approval from shareholders.

The company has clarified that corrective measures have been implemented, with the promoter returning the amount as a loan to restore company funds.

Postal Ballot Process Timeline

The comprehensive postal ballot encompasses four critical corporate resolutions, with the IPO proceeds deviation being addressed through a special resolution. The voting process continues through remote e-voting via KFin Technologies Limited.

Additional Corporate Matters

Beyond the IPO proceeds ratification, shareholders will vote on Managing Director Kamlesh Jain's remuneration package of ₹30 lakhs per month with an annual ceiling of ₹5 crore. The ballot also includes subsidiary executive appointments and Articles of Association amendments related to common seal provisions.

M/s. BP & Associates, Practicing Company Secretaries, serve as scrutinizers to ensure transparent voting procedures, with results to be communicated to stock exchanges upon completion.