APAR Industries announced that its Board of Directors approved two significant transactions on March 18, 2026. The first involves a capital contribution of up to USD 5 million into its wholly-owned US subsidiary, APAR USA LLC, for business needs related to conductors and cables. The second is an investment of up to Rs. 10.76 crores in Associate Company Clean Max Rudra Private Limited for wind and solar hybrid power generation facilities.
Board Decisions and Capital Commitments
The Board of Directors of APAR Industries met today, March 18, 2026, and sanctioned two major financial commitments aimed at both international expansion and domestic renewable energy initiatives.
Investment in APAR USA LLC
The company approved an additional capital contribution not exceeding USD 5 million to its Wholly Owned Subsidiary (WOS), APAR USA LLC (formerly CEMA Wires & Cables LLC), based in the USA. This infusion is specifically designated for the WOS’s business needs, particularly concerning its product lines of conductors and cables.
- The transaction falls under Related Party Transactions due to common directorship, but is confirmed to be conducted at an “arm’s length” basis.
- APAR will retain 100% shareholding in the WOS post-infusion.
- APAR USA LLC, incorporated in 2022, reported Nil turnover for the last three financial years (FY 2022-23 through FY 2024-25).
Investment in Clean Max Rudra Private Limited
The Board also approved entering into a Shareholders’ Agreement and Energy Supply Agreement to avail further wind and solar hybrid power generation facilities in Gujarat.
This involves an additional investment of up to Rs. 10.76 crores in its Associate Company, Clean Max Rudra Private Limited (the Special Purpose Vehicle or SPV).
- The facilities involve 9.90 MVA of wind capacity and 7.34 MWp (DC) of solar capacity.
- APAR currently holds 26% equity in the SPV, with the Promoter-shareholders (Clean Max Enviro Energy Solutions Private Limited) holding 74%.
- The new investment of Rs. 10.76 Crores will be used to acquire fresh Equity shares, maintaining APAR’s 26% stake on a fully diluted basis in the proposed expanded paid capital.
- APAR has previously invested Rs. 11.38 Crores for its initial 26% stake.
- This transaction is classified as a Related Party Transaction but is being executed on an arm’s length basis.
The Board meeting commenced at 14:32 hours (IST) and concluded at 14:45 hours (IST).
Source: BSE
