Nuvoco to Acquire 100% Stake in Algebra Endeavour from JSW Cement and Alpha Alternatives

Nuvoco Vistas Corporation has entered into a Securities Purchase Agreement (SPA) with JSW Cement and Alpha Alternatives Holdings to acquire 100% stake in Algebra Endeavour for ₹1,91.63 crore in an all-cash deal. The transaction is expected to close within 10 days of fulfilling conditions precedent. Algebra Endeavour, currently not contributing to JSW Cement’s turnover or net worth, holds investment and advisory interests and owns power plants in Kutch and Surat through its subsidiary Vadraj Energy (Gujarat). Post-acquisition, these power assets will support Nuvoco’s captive power needs, enhancing energy security and cost efficiency. Following the deal, Algebra Endeavour will become a wholly-owned subsidiary and a related party of Nuvoco. The acquisition aligns with Nuvoco’s strategy to strengthen its operational infrastructure and reduce dependency on external power sources, while JSW Cement exits a non-core holding as part of portfolio streamlining. The deal is not classified as a slump sale.