Craftsman Automation Limited has informed the Exchange regarding 'that the Company has made a further equity investment of Rs.9,230/- (ie.,923 equity shares of face value of Rs.10/- each, aggregating to 4.61% of the equity share capital) in Viksha Green Energy Private Limited (VGEPL) 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 Rs. 9,230 in Viksha Green Energy Private Limited (VGEPL) by purchasing 923 equity shares of Rs. 10 each, taking a 4.61% stake in the company. The investment is being made to set up solar power capacity under the Group Captive Scheme, as required by the Electricity Act, 2003. VGEPL appears to be a private entity set up to supply solar power to Craftsman as a captive user. The investment amount is very small in monetary terms and represents a minority, non-controlling stake.
Financially negligible for shareholders — this is a token investment to enable captive solar power sourcing, which may modestly reduce long-term electricity costs and support ESG goals but is unlikely to move the stock price.