Craftsman Automation Invests ₹2.57 Crore in EG Solar Energix for Solar Power
Craftsman Automation Limited has executed a Share Subscription-cum-Shareholders Agreement (SSSA) and a Power Purchase Agreement (PPA) to invest ₹2,57,12,000 (Rupees Two Crores Fifty-Seven Lakhs Twelve...
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Craftsman Automation Limited (CRAFTSMAN) is in the news due to the investment in renewable energy aligns with sustainability goals and strategic expansion, which is viewed positively for the company's future growth.
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Craftsman Automation Invests ₹2.57 Crore in EG Solar Energix for Solar Power
December 19, 2025, 12:22 PM
Craftsman Automation Limited has executed a Share Subscription-cum-Shareholders Agreement (SSSA) and a Power Purchase Agreement (PPA) to invest ₹2,57,12,000 (Rupees Two Crores Fifty-Seven Lakhs Twelve Thousand Only) in EG Solar Energix Private Limited (EGSEPL).
This investment, to be made in one or more tranches, aims to subscribe to a minimum of 26% of EGSEPL's equity share capital. EGSEPL is engaged in the business of power generation and transmission, and the investment is intended for purchasing solar power under the Captive Scheme, in accordance with the Electricity Act, 2003.
The investment does not fall within related party transactions, and none of the promoters or promoter group companies have any interest in EGSEPL. EGSEPL was incorporated on January 31, 2025. The proposed investment is expected to be completed by March 31, 2026. The consideration is in cash.
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