Intimation under Regulation 30 of SEBI (LODR) Regulations 2015 - Investment upto Rs 2.50 Crore by way of subscription to and/or acquisition of equity shares carrying voting rights in a ....
RELAXO · price
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Relaxo Footwears board has approved investment of up to ₹2.50 crore in a Special Purpose Vehicle (SPV) to be incorporated by CleanMax Enviro Energy Solutions Limited. The SPV will set up a group captive solar power project under the Electricity Act, 2003 for Relaxo's manufacturing facilities in Haryana. Upon completion, Relaxo will hold approximately 26% equity stake in the SPV, making it an associate company. The investment will be in cash and the company will enter into related agreements including Energy Supply Agreement and Share Purchase Agreement.
This investment signals Relaxo's push toward renewable energy adoption for its manufacturing operations, potentially reducing long-term energy costs and supporting sustainability goals. The relatively small investment amount (₹2.5 crore) is unlikely to have material impact on financials in the near term.