Clean Max Enviro Energy Solutions Limited has entered into an agreement to acquire 100% equity shares of Kintech Solarbikaner Private Limited for ₹38.06 crore. The acquisition aims to bolster Clean Max’s renewable energy capacity in Gujarat.
The acquisition, set to be completed by 31 March 2026, involves a cash transaction for the enterprise value of Kintech Solarbikaner. This strategic move is part of Clean Max’s efforts to expand its wind-solar hybrid renewable energy portfolio. Kintech Solarbikaner, incorporated on 31 May 2023, has yet to generate any turnover, with a net worth of ₹-82,690 as of the financial year 2025.
The acquisition does not fall within related party transactions, and no governmental or regulatory approvals are required for its completion. Kintech Solarbikaner operates within the renewable energy generation industry, focusing on expanding its presence in India.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by Aman Shukla before publication.