Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Company has decided to make equity investments in Alagendira Solar Energy Private Limited ....
Awaiting price reaction for this filing.
Craftsman Automation has decided to make small equity investments in three private entities to secure renewable power for its operations under the Group Captive Scheme per the Electricity Act, 2003. The company will invest Rs. 2,60,000 for a 26% stake in Alagendira Solar Energy, Rs. 1,56,000 for a 26% stake in Urvang Agro (both solar power), and Rs. 13,100 for a 0.87% stake in RC Green Powers (wind power). Total investment is just Rs. 4,29,100 in cash, to be completed by May 31, 2025. The three target entities are small, newly incorporated private companies with negligible turnover. The investments are not related party transactions and no promoter interest is involved.
This is a routine, very small strategic investment (under Rs. 5 lakhs total) aimed at securing captive solar and wind power supply for the company's own use, not an expansion or acquisition of significance to shareholders. It signals the company's move toward renewable energy for its operations but is unlikely to have any meaningful impact on stock price or financials.