Polyplex to Invest ₹11 Crore in Clean Max Neht for Solar Power
Polyplex Corporation Limited will invest up to ₹11 Crore in Clean Max Neht Private Limited for solar power purchase. The investment aims to meet green energy needs and optimize costs. The acquisition of approximately 49% equity in the SPV is expected to be completed within 365 days of agreement execution.
The investment of ₹11 crore is a significant amount, and securing solar power for its plants will have a medium-term impact on operational costs and environmental compliance.
The investment in solar power aligns with green energy initiatives and cost optimization, which is positive for the company's long-term sustainability and operational efficiency.
Polyplex Corporation Limited announced on March 25, 2026, that its Board of Directors has approved an investment of up to ₹1,100 Lakh (₹11 Crore) towards an equity stake in Clean Max Neht Private Limited. This Special Purpose Vehicle (SPV) is being established for the purchase of solar power for the company's plants located in Khatima and Bazpur.
The company intends to enter into a Share Subscription and Shareholders’ Agreement (SSSA) with Clean Max Neht Private Limited for subscribing to its equity shares in due course. The investment is aimed at meeting the company's green energy needs, optimizing energy costs, and complying with regulatory requirements for captive power consumption under Electricity Laws.
Clean Max Neht Private Limited was incorporated on November 10, 2025, and operates in the renewable energy sector. The acquisition is not a related party transaction, and the promoter/promoter group of Polyplex has no interest in the entity being acquired. The company proposes to acquire approximately 49% equity shareholding in the SPV. The acquisition is expected to be completed approximately 365 days from the execution of the Power Purchase Agreement and the SSSA. The Board meeting where this decision was made commenced at 02:00 p.m. IST and concluded at 03:35 p.m. IST on March 25, 2026.
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Polyplex Corporation Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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