Happy Forgings Limited has executed a long-term lease agreement for land required for setting up a solar power plant. The agreement is for approximately 80 acres of land situated in tehsil and district Muktsar, Punjab, and will be for a duration of 29 years and 11 months. The company has entered into this agreement with multiple landowners. The purpose of the lease is exclusively for the development of the solar power plant, as previously informed by the company via a letter dated June 8, 2024. Happy Forgings Limited has confirmed that the landowners are not related to any promoter, promoter group, or group companies, and therefore, the transaction does not fall within related party transactions. The terms and conditions of the agreement have been mutually agreed upon by all parties involved.
