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. 110 Lakh (about Rs. 1.1 Crore) to acquire roughly 26% equity stake in BECIS Solar 1 Private Limited, a Pune-based special purpose vehicle (SPV) incorporated in May 2024. The investment is aimed at setting up solar energy projects at Polyplex's Khatima and Bazpur plants under the Opex (operational expenditure) model. The deal is not a related-party transaction, promoters have no interest in BECIS, and consideration is in cash. Completion is expected within about 365 days of signing the Power Purchase Agreement and Shareholders' Agreement. BECIS reported a turnover of only Rs. 36.98 Lakh in FY25, indicating it is a newly formed entity set up specifically for this purpose.
The investment size is very small (Rs. 1.1 Crore) and unlikely to materially impact financials or share price. However, it signals Polyplex's focus on reducing energy costs and meeting renewable energy/captive power regulatory requirements, which could support long-term operating cost efficiency.