Craftsman Automation Limited has informed the Exchange regarding 'Pursuant to Regulation 30 the SEBI (LODR) Regulations, 2015, we wish to inform youthat the Company has decided to make equity investments in Alagendira Solar EnergyPrivate Limited and Urvang Agro Private Limited for solar power and in RC GreenPowers Private Limited for wind power under Group Captive Scheme as required underthe provisions of the Electricity Act, 2003.'.
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Craftsman Automation has decided to make equity investments in three private companies — Alagendira Solar Energy and Urvang Agro (for solar power) and RC Green Powers (for wind power). These investments are being made under the Group Captive Scheme as per the Electricity Act, 2003, which typically allows companies to source renewable power for their own use. The specific investment amounts and stake sizes have not been disclosed in the filing. The move aligns with the company's strategy of securing captive renewable energy supply for its operations.
This is a step towards securing long-term, cost-efficient renewable power for the company's operations and supports its ESG and sustainability goals. Since investment values are not disclosed, near-term impact on shareholder value is likely limited unless the size is material.