Rajshree Polypack Limited has completed an investment of ₹2.02 Cr to acquire a 0.7599% stake in Jamnagar Renewables Two Private Limited. The transaction, finalized on June 23, 2026, involves the purchase of 20,25,210 equity shares and supports a Group Captive Wind-Solar Hybrid power arrangement. This strategic move aims to secure captive power procurement benefits in accordance with applicable electricity laws and regulations.

The investment was executed pursuant to a Share Purchase and Shareholders Agreement (SPA/SHA) signed with Jamnagar Renewables Two Private Limited and Continuum Green Energy Limited. Continuum Green Energy Limited, the promoter of the power producer, transferred the equity shares of face value ₹10 each to Rajshree Polypack Limited. The agreement governs the rights and obligations of the shareholders, maintenance of the captive user structure, governance rights, and transfer restrictions.

Transaction Details

The disclosure submitted to the National Stock Exchange of India Limited outlined the specifics of the agreement and the parties involved. The transaction does not fall within the ambit of a related party transaction, as Jamnagar Renewables Two Private Limited and Continuum Green Energy Limited are not related to the promoter or promoter group of Rajshree Polypack Limited.

Regulatory Context

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It serves as an update to a previous disclosure dated December 18, 2025, regarding the execution of the Term Sheet for sourcing renewable power. The definitive agreements ensure compliance with captive power plant requirements under applicable electricity laws.

Rajshree Polypack Limited has approved the re-appointment of Mr. Praveen Bhatia as a Non-Executive Independent Director for a second term of five years, effective from June 24, 2026. The decision, taken by the Board of Directors via a Circular Resolution on June 23, 2026, follows the recommendation of the Nomination and Remuneration Committee and is subject to the approval of the company's shareholders. This move ensures continuity in leadership as the director serves a term ending June 23, 2031.

Mr. Praveen Bhatia holds a DIN of 00147498 and has confirmed that he meets the independence criteria prescribed under the Companies Act, 2013 and the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company further confirmed, in accordance with NSE Circular No. NSE/CML/2018/24, that he is not debarred from holding the position of director by SEBI or any other authority. The re-appointment was intimated to the National Stock Exchange of India Limited under Regulation 30 of the Listing Regulations.

Mr. Bhatia brings over thirty-three years of experience to the role, specializing in issue management, mergers & amalgamations, foreign collaborations, project consultation, loan syndication, audit & taxation, and investment advisory services. He holds a Bachelor of Commerce degree from the University of Delhi and is a qualified Chartered Accountant and fellow member of the Institute of Chartered Accountants of India (ICAI). The disclosure confirms that he is not related to any of the existing directors of the company.

The table below outlines the key particulars of the re-appointment as per SEBI Circular dated July 13, 2023.

The intimation was signed by Ramswaroop Radheshyam Thard, Chairman and Managing Director of Rajshree Polypack Limited.