This is a clarification disclosure submitted to the National Stock Exchange of India Limited and BSE Limited. It pertains to a prior intimation made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on 15.06.2026.
The disclosure corrects a typographical error in the original filing regarding a Certificate of Eligibility issued by the Department of Industries & Commerce, Punjab, Chandigarh. The certificate grants the company a 100% exemption from payment of electricity duty.
Key Correction
The quantum of the proposed subsidy was incorrectly stated as Rs. 881.86 Crores in the original Annexure A. The correct amount is Rs. 88.68 Crores.
Subsidy Details
- Granting Authority: Department of Industries & Commerce, Punjab.
- Nature of Benefit: 100% exemption from payment of electricity duty.
- Total Value: Rs. 88.68 Crores.
- Period: 15 years, starting from 18.11.2024.
- Cap: The exemption is valid until the aggregate amount of Rs. 88.68 Crores is availed or for 15 years, whichever is earlier.
- Policy Reference: Granted under clause 10.1(iv), (v) of DSOG-2018, issued under IBDP-2017.
- Date of Receipt: The company received the certificate on 15.06.2026.
Conditions and Impact
- The subsidy is subject to the fulfilment of conditions precedent and applicable policies of the Government of Punjab.
- Financial Impact: The financial impact is quantifiable and shall be up to the amount of subsidy availed (Rs. 88.68 Crores).
- Operational Impact: The electricity duty exemption is expected to reduce operating costs and improve profitability over the 15-year exemption period.
The company states that the error was inadvertent and made without any mala fide intention. A revised Annexure A containing the correct amount is enclosed with this clarification.