Lumax Industries Limited has informed the Exchange that the Board of Diretcors in tehir meeting held on May 26, 2025 have approved the investment for an amount upto Rs. 1.49 Crore (Approx.) to acquire stake in the Equity Share Capital of AMPIN C&I Private Limited's Subsidiary which is yet to be incorporated (the Special Purpose Vehicle "SPV"), for being qualified as Captive User in terms of the provisions of Electricity Act, 2003 and Electricity Rules, 2005, for the solar energy to be generated by the power plant of the SPV for Chakan and Chinchwad Plants of the Company.
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Lumax Industries' Board has approved an investment of up to Rs. 1.49 Crore to acquire a stake in a Special Purpose Vehicle (SPV) being set up by AMPIN C&I Private Limited. The SPV is yet to be incorporated and will set up a solar power plant. The investment is being made so Lumax can qualify as a Captive User under the Electricity Act, 2003, allowing it to use solar energy generated by the SPV for its Chakan and Chinchwad plants. This is a small but strategic step towards renewable energy adoption for the company's manufacturing operations.
Minor positive for shareholders — supports cost savings on electricity at two key plants through captive solar power, though the investment size is small and unlikely to move the stock materially. It signals the company's gradual shift towards greener, cheaper energy for its operations.