Lumax Industries has announced a board meeting on May 26 to approve the financial results for the quarter and half-year.

The company plans to invest Rs 1.49 Cr to acquire at least a 26% stake in a new SPV under AMPIN C&I Private Limited.

This stake will help Lumax qualify as a captive user of solar power from the SPV’s plant, advancing its renewable energy goals for the Chakan and Chinchwad plants.

The deal is primarily strategic with minimal expected financial or operational impact.