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Sundaram-Clayton Limited ( (IN:SUNCLAY) ) has issued an announcement.
Sundaram-Clayton Limited has increased its stake in Navia Two Power Private Limited by investing about Rs. 7.45 crore in a rights issue, acquiring 39,047 additional equity shares at a significant premium. Its total holding in Navia, a Zelestra Group special-purpose vehicle set up to own and operate a captive power plant, has risen from 11,628 to 50,675 shares.
Navia operates in the renewable energy segment and is intended to generate and sell electric power from non-conventional sources, though it has yet to commence operations. Sundaram-Clayton said the move is aimed at meeting Indian electricity law requirements for captive power consumption, underscoring a strategic push to secure compliant, renewable captive power that could support energy cost management and sustainability goals over time.
More about Sundaram-Clayton Limited
Sundaram-Clayton Limited, formerly Sundaram-Clayton DCD Limited, is an Indian listed company with its registered office in Chennai. The company operates in manufacturing and automotive-related sectors and is focusing on securing reliable energy sources through captive power arrangements to support its operations and cost structure.
Average Trading Volume: 611
Technical Sentiment Signal: Sell
Current Market Cap: 28.36B INR
Learn more about SUNCLAY stock on TipRanks’ Stock Analysis page.