Polyplex Corporation Limited announced its Board has approved an investment of up to ₹1,100 Lakh to acquire an equity stake in Clean Max Neht Private Limited. This newly incorporated Special Purpose Vehicle (SPV) is focused on renewable energy. The primary objective of this investment is to secure solar power for the company’s manufacturing plants located at Khatima and Bazpur, ensuring compliance with captive power consumption regulations and optimizing energy costs.
Strategic Investment in Green Energy Infrastructure
Polyplex Corporation Limited has disclosed a key strategic decision made by its Board of Directors following a meeting that concluded on March 25, 2026. The Board has granted approval for the company to invest a sum up to Rs. 1,100 Lakh (Rupees Eleven Hundred Lakh only) toward acquiring an equity stake in a Special Purpose Vehicle (SPV).
Details of the Target Entity
The target entity is Clean Max Neht Private Limited, a company incorporated on November 10, 2025, and operating in the Renewable Energy sector. As a newly formed entity, its turnover details are noted as Not Applicable. The investment is being made via subscription to Equity Shares, and the company intends to secure approximately ~49% equity shareholding in the SPV.
Rationale and Impact of Acquisition
The investment is strategically aligned with the company’s operational goals. The primary object is to meet green energy needs, optimize energy costs, and comply with regulatory requirements concerning captive power consumptions under Electricity Laws. Importantly, this transaction is confirmed not to be a related party transaction, and the promoter group holds no interest in the entity being acquired.
Transaction Terms
The consideration for the acquisition will be paid in cash. The completion timeline for the acquisition is estimated to be approximately 365 days from the execution of the necessary agreements, including the Share Subscription and Shareholders’ Agreement.
Source: BSE
