Relaxo Footwears Ltd. to Invest Up To ₹ 2.50 Crores in Clean Energy SPV for Captive Power Project
Relaxo Footwears Ltd. has initiated a strategic move by investing in a newly incorporated Special Purpose Vehicle (SPV) focused on renewable energy generation. The investment is intended to secure the company's green energy needs and optimize energy costs while adhering to regulatory requirements concerning captive power consumption under the Electricity Act, 2003.The target entity is Clean Max MUOI Private Limited, a private limited company incorporated in India on June 13, 2026. This SPV is dedicated to the development, operation, and maintenance of captive solar power projects and allied activities designed to supply renewable energy to Relaxo Footwears' manufacturing facilities across Haryana.
The proposed acquisition or subscription involves an investment of up to ₹ 2.50 crores by Relaxo Footwears Ltd. The company plans to acquire approximately 26% equity share capital in Clean Max MUOI Private Limited. Upon the completion of the transaction, the SPV is expected to become an associate of Relaxo Footwears Ltd.
Clean Max MUOI Private Limited, which operates exclusively in India, has been established with an authorized share capital of ₹ 30,00,000 and a paid-up capital of ₹ 1,00,000. Since the SPV is a newly incorporated entity, its turnover is currently reported as Nil.
The transaction structure involves cash consideration. The timeline for completing the proposed acquisition or subscription has been set at approximately 60 days from the date of incorporation.
The investment in the renewable energy sector aligns with the company's objective to ensure sustainable and cost-effective operations. The acquisition does not constitute a related party transaction, and neither the promoter nor the promoter group holds any interest in the SPV.
Key details regarding the proposed acquisition are presented below:
| Detail | Particulars |
|---|---|
| Target Entity Name | Clean Max MUOI Private Limited |
| Incorporation Date | June 13, 2026 |
| Industry Focus | Renewable Energy |
| Investment Cost (Max) | Up to ₹ 2.50 crores |
| Stake Acquired | Approximately 26% equity share capital |
| Transaction Type | Cash Consideration |
| Anticipated Completion Period | Approximately 60 days from incorporation date |
RELAXO Stock Price Movement
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