Agreement Execution
The company executed a Shareholders Agreement dated 24th June, 2026 with:
1. Maxim Industries Private Limited (Maxim)
2. Samvik Power Private Limited (Shareholder)
3. Shank Investment Private Limited (Shareholder)
4. RDB Infrastructure and Power Limited
Current Shareholding
RDB Infrastructure and Power Limited currently holds 29% equity stake in Maxim Industries Private Limited.
Future Stake Acquisition
Upon achievement of milestones as mentioned in the agreement, the company shall acquire 42.50% stake in Maxim Industries Private Limited.
Purpose of Agreement
The agreement is for establishing and operating a solar cell manufacturing plant in the State of Chhattisgarh.
Significant Terms
RDB has the right to appoint equal number of directors as Shank Investments Private Limited. Initially, the board will have 1 nominee director each from all three parties (RDB, Shank Investments, and other shareholders).
Related Party Status
The transaction does not fall within related party transactions. The parties are not related to promoter/promoter group/group companies in any manner.