MRF to Acquire 26% Stake in Serentica Renewables for ₹99 Crore Under Captive Power Policy

MRF Ltd has announced that it will acquire up to 26% equity stake in Serentica Renewables India Private Limited for ₹99 crore, as part of a power supply and consumption agreement signed under the Centre’s captive power policy.

In a regulatory filing, MRF said the agreement will allow it to purchase solar and wind energy from Serentica Renewables, supporting its shift towards cleaner energy sources.

Serentica Renewables, incorporated on May 5, 2025, is engaged in the development of renewable energy projects, including hydel, solar, wind, geothermal, and energy storage. The company operates on a build-own-operate model. As it is still in its early stages, it has not yet commenced commercial operations, and its turnover remains nil, according to MRF’s disclosure.