Welspun Living Limited (WLL) has announced the cancellation of its previously agreed acquisition of a 26% equity stake in Clean Max Dhyuthi Private Limited (CleanMax). The transaction, initially approved on May 15, 2026, for a consideration of ₹760 lakhs, was slated for completion by August 31, 2026. Both WLL and promoter group company Welspun Corp Limited (WCL) mutually agreed to withdraw due to considerations regarding current demand, supply, and availability of power.
Acquisition Cancellation Announced
Welspun Living Limited (WLL) has officially withdrawn from its proposed acquisition of a 26% equity stake in Clean Max Dhyuthi Private Limited (CleanMax). This decision follows an earlier disclosure on May 15, 2026, when WLL’s Board of Directors had approved the purchase of 48,599 equity shares of CleanMax from Welspun Corp Limited (WCL), a promoter group entity.
Deal Rationale and Withdrawal
The acquisition was set to involve a consideration of ₹760 lakhs (Rupees Seven Hundred and Sixty Lakhs only), with the transaction intended to be completed by August 31, 2026. CleanMax primarily operates in the generation and supply of solar and renewable energy through a captive model. However, after considering the prevailing market conditions related to power demand, supply, and availability, WLL and WCL have mutually decided not to proceed with the acquisition. Consequently, the proposed transaction has been cancelled and will not be executed.
Source: BSE
