Lumax Industries has received approval for investment of Rs 2.05 crore to acquire upto 49% stake in the Equity Share Capital of Clean Max Nabia (the Special Purpose Vehicle), for being qualified as Captive User in terms of the provisions of Electricity Act, 2003 and Electricity Rules, 2005, for the solar energy to be generated by the power plant of the SPV for Dharuhera, Bawa Lighting and PCB Bawal Plants (Haryana) of the Company.
The company has also received approval for investment of Rs 0.87 crore to acquire upto 10% stake in the Equity Share Capital of Huoban Energy 5 (the Special Purpose Vehicle), for being qualified as Captive User in terms of the provisions of Electricity Act, 2003 and Electricity Rules, 2005, for the solar energy to be generated by the power plant of the SPV for New Chakan (Pune) Plant of the Company.
The Board of Directors, at their meeting held on May 24, 2024, have, inter-alia, considered and approved the same.
Lumax Industries offers a range of Automobile Lighting Systems and Solutions for Four Wheeler, Two Wheeler, Trucks, Buses, Earth-movers, Tractors and a variety of diverse applications.
