UFlex Limited has entered into a strategic joint venture with AMPIN C&I Power Private Limited to set up a new company focused on solar power generation. The new entity, named AMPIN C&I Power Twenty Private Limited, was officially incorporated on August 1, 2025.
Under the terms of the joint venture, AMPIN will hold a 74% stake, while UFlex will own the remaining 26%. This ownership structure qualifies the new company as an associate of UFlex Limited.
The newly formed company will be responsible for setting up a solar power plant in Haryana, under India’s captive power plant policy. This policy requires the user of the power (in this case, UFlex) to hold at least 26% ownership in the generating company to qualify as a captive consumer. UFlex will purchase solar power generated by the joint venture on a long-term basis to meet its energy needs sustainably.
The company has been incorporated with an authorised share capital of ₹15 lakh and an initial subscribed capital of ₹1 lakh. Since it is newly formed, there is no revenue history yet.
The entire investment by UFlex will be in cash, with shares acquired at a face value of ₹10 per share. No regulatory approvals were needed for the transaction, and the acquisition does not involve any promoter or group company interest outside of what is required for the joint venture.