Announced Tue, 16 Jun · 15:22 IST
Incorporation of Clean Max MUOI SPV for captive solar power
RELAXO · price
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Price reaction · full curve 14 horizons · vs prior close
+6.6%1-day move
₹341.75
prior close
₹350.85
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0———+6.6+7.6+4.8+4.2+5.9+21.7+13.2+7.9——
Up moveDown movePending
AI summary
Relaxo Footwears has incorporated Clean Max MUOI Private Limited as a Special Purpose Vehicle on June 13, 2026, in collaboration with Clean Max for captive solar power. The SPV will supply renewable energy to Relaxo's manufacturing facilities in Haryana. Relaxo will invest up to ₹2.50 crore for ~26% equity, making the SPV its associate. The move aims to meet green energy needs, optimise energy costs, and comply with captive power regulations under the Electricity Act, 2003.
Likely market impact
Minority ₹2.5 cr investment in solar SPV to power Haryana plants; aids ESG goals and energy cost savings. Limited financial impact.