Advanced Enzyme Technologies Limited has informed the Exchange about Incorporation
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Advanced Enzyme Technologies' 95.72% subsidiary, JC Biotech Private Limited, has approved a collaboration with Raywatt Solar Power Systems to set up a group captive solar power plant. The subsidiary will invest up to ₹10 million for a 26% equity stake in a Special Purpose Vehicle (SPV) that will supply solar electricity to JC Biotech's plant in Ongole, Andhra Pradesh. The SPV is yet to be incorporated, and the investment is expected to be completed by March 31, 2026. The move is aimed at meeting the plant's power needs through a sustainable and cost-effective source over the long term.
The investment is small (up to ₹10 million) and is aimed at reducing long-term electricity costs for the subsidiary's manufacturing plant. It is unlikely to have a material impact on the listed company's financials, though it supports operational cost efficiency and sustainability goals.