Lumax Industries has received approval for investment of upto Rs 3.47 crore to acquire upto 49% stake in the Equity Share Capital of Clean Max Nabia (the Special Purpose Vehicle (SPV)), 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 Sanand (Gujarat) Plants of the company. The said acquisition is expected to be completed in approximately 1 month. The Board of Directors, at their Meeting held on August 08, 2024, has 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.
