By Bl Chennai Bureau

Copyright thehindubusinessline

MRF Ltd has entered into a power supply and consumption agreement with Serentica Renewables India Private Limited for the purchase of solar and wind power under the Centre’s captive power policy.

It will acquire up to 26 per cent of the paid-up equity capital of Serentica Renewables for ₹99 crore in cash, says a release from MRF to the stock exchanges.

Serentica Renewables is engaged in the business of renewable energy and acts as a developer on build, own, operate, maintain and manage hydel, solar, wind, geothermal, energy storage and/or any other alternative source of energy. Since the Company was incorporated on May 5, 2025, it has not started any commercial operations. Hence, the turnover is Nil, the release said.

The indicative time period for completion of the acquisition is July 31, 2026, the exchange communication said.

MRF’s share price on the NSE was down by ₹845 to close at ₹1,55,510.

Published on October 10, 2025