Styrenix Performance Materials has announced a board meeting to discuss its strategic acquisition of a 36.13% equity stake in Clean Max Jasper Pvt. Ltd. for ₹7.66 crore.

This acquisition is aimed at fulfilling regulatory requirements for captive power consumption and enhancing the company's green energy capabilities while optimizing energy costs.

The transaction involves the allotment of 51,801 equity shares at a premium, maintaining Styrenix's ownership percentage post-allotment.

This move positions Styrenix for improved operational efficiencies and cost management in its energy strategy, potentially benefiting shareholders in the long run.