Mumbai, Aug. 3 -- Coal India approved an investment in the rights issue of its joint venture subsidiary CIL Rajasthan Akshay Urja, disclosed in a corporate filing on 27 July 2026 under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements. The decision reinforces the company's move into renewable energy and supports the joint venture's capital needs.
CRAUL is a joint venture between Coal India and Rajasthan Rajya Vidyut Urja Nigam in which Coal India holds 74 per cent and RVUNL 26 per cent. The company was incorporated on ninth June 2025 to develop renewable energy projects. Before the rights issue CRAUL had a paid-up capital of Rs 1 million (mn), with Coal India contributing Rs 0.74 million (mn) and RVUNL Rs 0.26 million (mn); the company has not reported any turnover.
Under the approved rights issue Coal India will subscribe to 222,000 equity shares with a face value of Rs 10 each and will make a cash infusion of Rs 2.22 million (mn). RVUNL will subscribe to 78,000 equity shares for Rs 0.78 million (mn), allowing both partners to retain the existing 74:26 shareholding ratio. The subscriptions will be completed by cash and are expected to be finalised within 30 days of opening; the company said the transaction does not require government or regulatory approvals and does not qualify as a related party transfer under applicable rules.
CRAUL will develop, construct and operate solar power plants, wind projects and pumped storage facilities across India and will supply generated electricity to RVUNL, state distribution companies, commercial and industrial consumers or sell into the open power market. The investment is part of Coal India's broader effort to diversify beyond coal and strengthen its role in the clean energy transition, with additional funding intended to accelerate project development and support expansion of low-carbon energy infrastructure in the country.
Published by HT Digital Content Services with permission from Construction World.