Further to our letter dated October 28, 2024, please find attached the intimation regarding investment in Radiance MH Sunshine Two Private Limited (in place of Radiance MH Sunrise Thirteen ....
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Awaiting price reaction for this filing.
The Board of Saint-Gobain Sekurit India approved a revised investment of up to ₹2,45,52,000 (slightly increased from the earlier approved ₹2,45,34,000) in Radiance MH Sunshine Two Private Limited, a special purpose vehicle set up for sourcing renewable solar power. The investment is in the form of equity shares issued at ₹10 each (at par), representing Saint-Gobain Sekurit's proportionate shareholding in the entity under the Electricity Act. The SPV will set up an Intra-State Transmission System (InSTS) solar power generation plant to supply green power to the company. The counterparty is not related to the promoter or group companies, and there is no conflict of interest.
This is a marginal upward revision (₹18,000) in an already small green energy investment and is unlikely to materially affect shareholders or the stock price. It signals the company's continued focus on sourcing renewable energy for its operations, which supports long-term sustainability and may help reduce power costs over time.