Polyplex Corporation Limited has informed the Exchange about Acquisition
POLYPLEX · price
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Polyplex Corporation's Board has approved an investment of up to Rs. 1,100 Lakh (approximately Rs. 11 Crore) to acquire about 49% equity stake in Clean Max Neht Private Limited, a newly incorporated SPV in Mumbai focused on renewable energy. The investment is aimed at securing solar power for Polyplex's manufacturing plants at Khatima and Bazpur, helping the company meet green energy needs, optimize energy costs, and comply with captive power consumption regulations under Electricity Laws. The company will enter into a Share Subscription and Shareholders' Agreement (SSSA) and pay the consideration in cash, with completion expected within roughly 365 days of executing the agreements. The transaction is not a related party deal, and no governmental or regulatory approvals are required.
This is a small, strategic investment (about Rs. 11 Crore) in a newly formed solar power SPV and is unlikely to materially impact Polyplex's financials or stock price. However, it signals the company's push toward renewable energy for its manufacturing operations, which may support long-term cost savings and ESG positioning.