Craftsman Automation Limited has informed the Exchange regarding 'Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Company has made equity investment in Event Green Power Private Limited for solar power under the Group Captive Scheme as required under the provisions of the Electricity Act, 2003.'.
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Craftsman Automation has invested in Event Green Power Private Limited to source solar power under the Group Captive Scheme, as permitted under the Electricity Act, 2003. The investment is aimed at securing captive solar energy for the company's operations rather than purchasing power from the grid. Specific investment amount and capacity details were not disclosed in the filing. This move aligns with the company's efforts to adopt renewable energy and reduce reliance on conventional electricity sources.
This is a small operational step towards green energy adoption and may help lower long-term power costs. Without disclosed investment value, the immediate financial impact on shareholders or stock price is expected to be limited.