Dalmia Bharat exits O2 Renewable Energy V with full stake sale

Dalmia Bharat Limited (DBL) has divested its entire 25.44% equity stake in O2 Renewable Energy V Private Limited (OREV), ending its associate relationship with the renewable energy company. The transaction was completed on January 16, 2026.

The sale was executed at around 1:15 PM on January 16, 2026, for a total consideration of Rs 10.82 crore. The stake had been held through Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of DBL. The investment in OREV was made in two tranches on April 6, 2024, and August 22, 2024. The purpose of the investment was to source up to 11 MW of wind power capacity in Karnataka.

The equity stake was acquired by three separate entities. JSW Neo Energy Limited acquired 12.23%, Goldman Sachs Services Pvt Ltd acquired 4.99%, and Syngene International Limited acquired 8.23%. DBL stated that none of the buyers are part of its promoter group or related entities, and the transaction is classified as a non related party deal.

DBL also clarified that OREV was not consolidated in its financial statements for the previous financial year, as the company did not exercise control over OREV during that period.

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