Huoban Energy 5 Private Limited announced that it will issue equity shares for the gross proceeds of INR 20,250,000 on May 24, 2024. The transaction will include participation from new investors Lumax Industries Limited will invest INR 8,700,000 and Anuh Pharma Limited will invest INR 11,550,000. Lumax Industries Limited will hold 10% stake and Anuh Pharma Limited will hold 10% stake in Huoban Energy 5 Private Limited.

The transaction has been approved by the board of directors of the company. The transaction is expected to close on August 31, 2024.