Board Meeting Details
The Board of Directors meeting was held on May 28, 2026, commencing at 12:30 hrs (IST) and concluding at 16:20 hrs (IST).
Investment Approval
The Board has approved an investment of up to ₹2.50 crores (Rupees Two crores fifty lakhs only) through subscription to and/or acquisition of equity shares in a special purpose vehicle (SPV) proposed to be incorporated by CleanMax Enviro Energy Solutions Limited and/or its affiliates.
Purpose of SPV
The SPV will be established for setting up a group captive solar power project under the Electricity Act, 2003 specifically for Relaxo Footwears Limited's manufacturing facilities across Haryana.
Agreement Structure
The Company will enter into multiple agreements with the proposed SPV and CleanMax Enviro Energy Solutions Limited and/or other relevant parties:
- Term Sheet
- Energy Supply Agreement
- Investment Agreement (Share Purchase and Shareholding Agreement)
- Performance Incentive Agreement
SPV Details from Annexure A
Industry Classification: Renewable Energy
Business Background: The proposed SPV is intended to undertake the business of development, operation and maintenance of captive solar power project(s) and allied activities for the Company's manufacturing facilities across Haryana.
Governmental Approvals: Not Applicable for incorporation
Consideration Type: Cash consideration
Investment Amount: ₹2.50 crores
Shareholding Percentage: 26% of the equity share capital of the proposed SPV
Corporate Relationship: The SPV will be incorporated by CleanMax Enviro Energy Solutions Limited and/or its affiliates and shall become an associate of Relaxo Footwears Limited upon acquisition/subscription of shares.