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Exide Industries invests Rs 5.34 cr in Clean Max Arcadia (SPV)

26-Apr-24 17:49 Hrs IST

Exide Industries had entered into an agreement for acquiring 26% equity stake in Clean Max Arcadia, a Special Purpose Vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions for generation and supply of solar power at its Bawal factory in Haryana.

The Company has invested a sum of Rs. 5,34,33,929/- in the SPV company towards acquisition of 26% equity shareholding and the allotment of equity shares against the said investment was done on 25 April 2024.