Relaxo Footwears Limited has approved an investment of up to ₹2.50 crores in a special purpose vehicle (SPV) to be incorporated by CleanMax Enviro Energy Solutions Limited and its affiliates. The investment aims to set up a group captive solar power project under the Electricity Act, 2003, specifically for the company's manufacturing facilities across Haryana. This strategic move is intended to support the company's energy requirements through renewable sources.

The Board of Directors, at its meeting held on May 28, 2026, accorded approval to subscribe to and acquire equity shares carrying voting rights in the proposed SPV. The company will hold approximately 26% of the equity share capital, making the SPV an associate entity. The consideration for the subscription will be made in cash.

As part of the transaction, Relaxo Footwears will enter into several agreements, including a Term Sheet, Energy Supply Agreement, Investment Agreement (Share Purchase and Shareholding Agreement), and Performance Incentive Agreement with the proposed SPV, CleanMax Enviro Energy Solutions Limited, and other relevant parties.

The proposed SPV will be incorporated in India and will operate within the renewable energy sector. Its primary business will involve the development, operation, and maintenance of captive solar power projects and allied activities. The specific name of the SPV is subject to approval by the Ministry of Corporate Affairs, Government of India.

Relaxo Footwears Limited has restructured its senior leadership by designating ten employees as Senior Management Personnel (SMP) and removing one individual from the category, effective May 28, 2026. The changes were approved by the Board of Directors during a meeting held on May 28, 2026, on the recommendation of the Nomination & Remuneration Committee. This restructuring follows changes in internal roles, designations, and responsibilities within the organization.

The newly designated SMPs include Mr. Gaurav Malik as Vice President – PD, Mr. Karan Singh Suryawanshi as Vice President – GT Sales, and Mr. Manoj Taneja as Vice President – E-commerce. Other appointments include Mr. Harpreet Singh Bhatia as Vice President – Revenue Growth, Mr. Manoj Lalwani as Vice President – Marketing, and Mr. Navin Trivedi as General Manager – Legal. The list further includes Mr. Rohit Khaneja as General Manager – Internal Audit, Ms. Manju Kohli as Chief Human Resources Officer, Mr. Raghubir Singh as Assistant Vice President – Information Technology, and Mr. Sandeep Singh as Senior General Manager – Export.

Concurrently, Mr. Rishi Mutreja, formerly Senior General Manager – SCM, ceased to be categorized as SMP effective May 28, 2026. The disclosure clarified that this change does not indicate a cessation of employment, and he will continue his service with the company.

The designations were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointments are based on existing full-time employment terms, with the effective date for all changes being May 28, 2026. The company stated that the brief profiles of the appointees are enclosed as per regulatory requirements.

Designated Senior Management Personnel

Change in SMP Status