Kalyani Steels has completed the acquisition of a 4.85% stake in Clean Renewable Energy KK 1B Private Limited for ₹2.94 crore, marking the successful execution of its strategic move to secure captive renewable power supply for operations under the group captive scheme as per the Electricity Act, 2003.

Acquisition Completion Details

The company has finalized the investment transaction involving the purchase of 1,034,453 equity shares in Clean Renewable Energy KK 1B Private Limited. The acquisition was completed with shares priced at ₹10.00 each with a premium of ₹18.37 per equity share, totaling ₹28.37 per share. This represents a 4.85% ownership stake in the renewable energy company.

Strategic Partnership Framework

Kalyani Steels has entered into Share Subscription and Shareholders Agreements with the Special Purpose Vehicle of Hero Rooftop Energy Private Limited. The acquisition has been structured in line with the Power Purchase Agreement and enables the company to access captive renewable power supply through clean energy sources.

Target Company Profile

Clean Renewable Energy KK 1B Private Limited was incorporated on July 25, 2024, with its registered office in New Delhi. The company is engaged in generation and sale of energy, specifically focused on electricity generation. As a newly incorporated entity, Clean Renewable has not generated any turnover for the current financial year.

Regulatory Compliance and Impact

The completed acquisition does not fall within the ambit of related party transactions, with none of the promoters, promoter group, or group companies of Kalyani Steels having any interest in Clean Renewable Energy. The transaction required no governmental or regulatory approvals for completion. This strategic investment demonstrates Kalyani Steels' commitment to incorporating renewable energy solutions into its operational framework, potentially reducing operational costs and supporting environmental sustainability initiatives.

Kalyani Steels Limited has announced receiving a Settlement Order from the Securities and Exchange Board of India (SEBI) dated February 23, 2026, involving the company and its Company Secretary Mrs. D.R. Puranik. The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Settlement Order Details

The Settlement Order No. SO/JS/DP2025-26/7871-7873 was issued in respect of Settlement Application No. 7872/2024 filed by Kalyani Steels Limited and Settlement Application No. 7871/2024 filed by Mrs. D.R. Puranik under the SEBI (Settlement Proceedings) Regulations, 2018. The order was received by both parties on February 23, 2026.

Alleged Violations

The settlement addresses multiple alleged violations by Kalyani Steels Limited, including:

• Clause 49(VII)(D) of SEBI Circular CIR/CFD/POLICY CELL/2/2014 dated April 17, 2014 read with SEBI Circular CIR/CFD/POLICY CELL/7/2014 dated September 15, 2014 along with Regulation 103 of the LODR Regulations and Section 21 of the Securities Contracts (Regulations) Act, 1956
• Regulation 23(2) of LODR Regulations read with Section 21 of SCRA
• Clause 49(IV)(A)(i) of SEBI Circular SEBI/CFD/DIL/CG/1/2004/12/10 dated October 29, 2004 read with Regulation 103 of the LODR Regulations and Section 21 of the SCRA
• Clause 49(VII)(E) and Clause 49(VIII)(A)(1) of various SEBI circulars along with LODR Regulations

Mrs. D.R. Puranik was alleged to have violated Regulation 6(2)(a), (b) and (c) of LODR Regulations read with Section 21 of SCRA.

Financial Impact

The settlement has resulted in specific monetary payments by both parties:

Company Statement

Kalyani Steels Limited has clarified that except for the settlement amounts paid, there are no other implications for the company arising from the Settlement Order. The complete details of the settlement order can be accessed on SEBI's official website at www.sebi.gov.in .

The disclosure was signed by Mrs. D.R. Puranik, Company Secretary, and submitted to both BSE Limited and National Stock Exchange of India Limited as required under the regulatory framework.