Relaxo Footwears Limited has informed the Exchange regarding Outcome of Board Meeting held on May 28, 2026, investment upto Rs. 2.50 crores by way of subscription to and/or acquisition of equity shares carrying voting rights in a special purpose vehicle.
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Relaxo Footwears Limited's Board has approved an investment of up to ₹2.50 crores in a special purpose vehicle (SPV) to be incorporated by CleanMax Enviro Energy Solutions Limited. The SPV will develop, operate and maintain a group captive solar power project under the Electricity Act, 2003 for Relaxo's manufacturing facilities across Haryana. Relaxo will acquire approximately 26% equity stake in the SPV through cash subscription. The company will enter into related agreements including Term Sheet, Energy Supply Agreement, Investment Agreement and Performance Incentive Agreement.
This investment enables Relaxo to secure renewable energy for its manufacturing operations at a controlled cost, representing a strategic sustainability initiative. The 26% stake means the SPV will be classified as an associate company but does not materially impact Relaxo's core footwear business.