Polyplex to Acquire 26% Stake in SPV for Solar Power at Uttarakhand Plants

Polyplex Corporation Limited ( (IN:POLYPLEX) ) just unveiled an update.

Polyplex Corporation Limited’s board has approved an investment of up to Rs. 110 lakh in equity shares of BECIS Solar 1 Private Limited, a Pune-based special purpose vehicle set up to develop solar power projects for the company. The deal will give Polyplex about a 26% stake in the renewable energy-focused entity, with completion targeted within roughly 365 days of signing key project and subscription agreements.

The investment will support the installation of solar energy projects under an Opex model at Polyplex’s Khatima and Bazpur plants, aimed at meeting its green energy needs and optimizing power costs. By securing captive renewable power and aligning with regulatory requirements on electricity consumption, the move is expected to improve cost efficiency and strengthen Polyplex’s sustainability credentials without involving any related-party transactions.

More about Polyplex Corporation Limited

Polyplex Corporation Limited is an India-based manufacturer in the plastics and packaging materials space, known for producing polyester films and related specialty packaging substrates. The company operates multiple plants, including facilities at Khatima and Bazpur in Uttarakhand, and serves industrial customers that require high-performance film solutions for packaging and industrial applications.

Average Trading Volume: 5,466

Technical Sentiment Signal: Sell

Current Market Cap: 26.12B INR

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