Investment25 Mar 2026, 06:31 pm
Polyplex Corporation Ltd. to Invest Rs. 1,100 Lakh in Clean Max Neht Private Limited for Solar Power Purchase
AI Summary
Polyplex Corporation Ltd. has received board approval to invest up to Rs. 1,100 Lakh towards equity stake in Clean Max Neht Private Limited. This investment is for the purchase of solar power for the company's plants at Khatima and Bazpur. The company will enter into a Share Subscription and Shareholders’ Agreement with Clean Max Neht Private Limited in due course. This investment is aimed at meeting green energy needs, optimizing energy costs, and complying with regulatory requirements for captive power consumptions under Electricity Laws.
Key Highlights
- Polyplex Corporation Ltd. to invest up to Rs. 1,100 Lakh in Clean Max Neht Private Limited
- Investment aimed at meeting green energy needs and optimizing energy costs
- Solar power purchase for the company's plants at Khatima and Bazpur
- Expected completion of the acquisition within approximately 365 days from execution of Power Purchase Agreement, Share Subscription and Shareholders Agreement
- Not a related party transaction; promoter/promoter group of the Company have no interest in the entity being acquired