Polyplex Corporation announced that its Board of Directors has approved an investment of up to ₹110 Lakh to acquire approximately ~26% equity shareholding in BECIS Solar 1 Private Limited (BECIS). The purpose of this investment is to develop and install solar energy projects under an Opex model at the company’s Khatima and Bazpur manufacturing plants. This move aligns with the company’s goals to meet green energy needs and optimize energy costs by utilizing captive power consumption under Electricity Laws.
Strategic Investment in Renewable Energy
On March 25, 2026, the Board of Directors of Polyplex Corporation Limited convened a meeting, concluding at 03:35 p.m. (IST), wherein they sanctioned a strategic investment to further its sustainability goals. The Board approved an investment of up to Rs. 110 Lakh (Rupees One Hundred Ten Lakh only) in the equity shares of BECIS Solar 1 Private Limited (BECIS).
Project Details and Rationale
The primary objective of acquiring shares in BECIS is to facilitate the installation of solar energy projects at the Company’s manufacturing sites in Khatima and Bazpur, utilizing an Opex model. BECIS, incorporated on 09.05.2024 in Pune, specializes in developing and constructing solar power projects for the Company.
The key rationale cited for this acquisition is twofold: to meet green energy needs and to optimize energy costs while complying with regulatory requirements for captive power consumption under Electricity Laws.
Transaction Summary
The transaction details confirm that the consideration for the acquisition will be cash. Polyplex proposes to invest approximately Rs. 110 Lakh to secure a ~26% shareholding in the Special Purpose Vehicle (SPV).
- Target Entity: BECIS Solar 1 Private Limited (BECIS)
- Investment Amount: Up to Rs. 110 Lakh
- Acquired Stake: ~26%
- Industry: Renewable Energy
- Related Party Status: The transaction is not a related party transaction, and no promoter group entities have an interest in BECIS.
The completion of the acquisition is estimated to occur within Approx. 365 days from the execution of the necessary agreements, specifically the Power Purchase Agreement, Share Subscription, and Shareholders Agreement.
Financial Context of Target Entity
The turnover data provided for BECIS for the preceding financial year (2024-25) stood at Rs. 36.98 Lakh, with no turnover reported for the prior two fiscal years (2023-24 and 2022-23).
The Company Secretary, Ashok Kumar Gurnani, confirmed that the necessary documentation, including the Share Subscription and Shareholders’ Agreement (“SSSA”), will be entered into in due course following this board approval.
Source: BSE
