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Polyplex Corporation Limited ( (IN:POLYPLEX) ) has shared an update.
Polyplex Corporation Limited has approved an investment of up to Rs. 1,100 lakh for acquiring around 49% equity in Clean Max Neht Private Limited, a Mumbai-based special purpose vehicle in the renewable energy sector. The stake will support a solar power project dedicated to supplying electricity to Polyplex’s Khatima and Bazpur plants.
The transaction, to be executed in cash under a Share Subscription and Shareholders’ Agreement and associated power purchase arrangements, is expected to be completed within about 365 days from signing. By securing captive solar power, Polyplex aims to cut energy costs, increase green energy usage and comply with regulatory requirements for captive consumption, which could enhance its sustainability profile and operational efficiency.
More about Polyplex Corporation Limited
Polyplex Corporation Limited is an Indian manufacturer in the plastics and packaging materials space, best known for producing polyester films used across flexible packaging and industrial applications. Listed on both the National Stock Exchange and BSE, the company operates major plants in Khatima and Bazpur, positioning it as a significant player in polymer-based packaging substrates.
Average Trading Volume: 5,466
Technical Sentiment Signal: Sell
Current Market Cap: 26.12B INR
For detailed information about POLYPLEX stock, go to TipRanks’ Stock Analysis page.