Wholly owned subsidiary to invest up to Rs. 1.85 crore for 26% stake in captive solar SPV

Fortis Hospotel Ltd, a wholly owned subsidiary, has entered into an agreement to acquire 26% equity shares of Clean Max Sau Pvt Ltd, an SPV for a captive solar power project in Haryana.

Mon 12 Oct 2026

Investment Amount

up to Rs. 1.85 Crore

Stake Acquired

26% equity shares / 26% of the paid-up capital

Completion Timeline

within 3 months of the agreement

Fortis Healthcare's wholly owned subsidiary, Fortis Hospotel Limited, has entered into an agreement to acquire 26% equity shares of Clean Max Sau Private Limited, the special purpose vehicle set up for a captive solar power generation project in the State of Haryana.

What a captive solar SPV means

• A special purpose vehicle (SPV) is a separate company created for one specific project.
• This SPV has been incorporated for development, operation and maintenance of captive solar power project(s) and allied activities, and for supplying renewable energy to the company.
• The SPV shall operate only in India, and was incorporated on June 2, 2026.

What the update states on numbers

• Stake being acquired: 26% of the paid-up capital of the SPV.
• Investment: the company proposes to invest up to Rs. 1.85 Crore for acquisition or subscription of that 26%.
• Mode of payment: cash consideration.
• Timeline: indicative time period for completion is within 3 months of execution of the agreement.

What the company says the purpose is

• The SPV will develop a solar power generation project in Haryana for the captive power consumption of Fortis Hospotel Limited.
• This is expected to help in meeting the company's green energy needs and optimise energy cost.

Other points disclosed

• The acquisition does not fall within related party transaction(s).
• Governmental or regulatory approvals required for the acquisition: not applicable.

How a retail investor can read this

• A 26% stake means the subsidiary is a minority shareholder in the SPV, alongside other shareholders.
• Captive power generally refers to electricity generated and consumed by the company itself, and here it is meant for Fortis Hospotel Limited's consumption.
• The transaction is an investment by a wholly owned subsidiary into a renewable energy vehicle, and the update describes the investment as cash consideration of up to Rs. 1.85 Crore.
• The update does not state the proportionate shareholding of other investors, the project capacity or tariff, so the operational scale of the solar project cannot be judged from this document alone.

Key things to watch

• Completion of the acquisition within the indicative 3-month window.
• Any subsequent disclosures on the project's commissioning and its contribution to the company's energy cost.

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