Polyplex Corporation Limited to Invest in Solar Energy Project
Polyplex Corporation Limited announced on March 25, 2026, that its Board of Directors approved an investment of up to Rs. 110 Lakh in BECIS Solar 1 Private Limited (BECIS). The investment aims to install solar energy projects under an Opex model at the company’s Khatima and Bazpur plants.BECIS Solar 1 Private Limited, incorporated on May 9, 2024, and based in Pune, is focused on developing and constructing solar power projects. According to financial records, the entity reported a turnover of Rs. 36.98 Lakh for the financial year 2022-23.
The transaction, which is not considered a related party transaction, will involve the company entering into a Share Subscription and Shareholders' Agreement with BECIS. The promoter/promoter group of Polyplex Corporation Limited has no interest in BECIS.
The investment is intended to meet green energy needs, optimize energy costs, and comply with regulatory requirements for captive power consumption. The acquisition is expected to be completed within approximately 365 days from the execution of the Power Purchase Agreement, Share Subscription, and Shareholders' Agreement.
Polyplex Corporation Limited plans to acquire approximately 26% shareholding in BECIS for a consideration of Rs. 110 Lakh (Approx.) in cash.
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