Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Croissance Ltd has identified 120 acres of land in Mysuru District for setting up a new bio-energy business focused on Ethanol and allied products. The land is proposed to be taken on lease for 36 years, with the Company in advanced discussions to finalize the lease. The Board of Directors has approved the proposal as part of the Company's long-term growth strategy. No specific investment amount or timeline for commissioning has been disclosed yet.
This is a forward-looking strategic announcement indicating the Company's intent to diversify into Ethanol production, which could be positive for long-term growth if executed well. However, since the land is not yet finalized and no capex figure is provided, there is no immediate material impact on the stock. Investors should watch for further updates on project cost, timelines, and execution.