Relaxo Footwears Limited has acquired 2,600 equity shares, representing a 26% stake in Clean Max MUOI Private Limited (‘SPV’). This acquisition, finalized on October 23, 2026, was made from Clean Max Enviro Energy Solutions Limited. The move is part of Relaxo’s strategy to secure renewable energy through a group captive mechanism for its Haryana manufacturing facilities, making the SPV an ‘Associate’ of the company.
Acquisition of Stake in Associate Company
Relaxo Footwears Limited announced on October 23, 2026, the acquisition of 2,600 equity shares in Clean Max MUOI Private Limited, an entity previously referred to as ‘SPV’. These shares represent a 26% ownership stake in the Paid-Up Equity Share Capital of the SPV. The shares were acquired from Clean Max Enviro Energy Solutions Limited, identified as the ‘Promoter of the SPV’.
Strategic Rationale for Acquisition
This strategic acquisition is a direct implementation of arrangements previously disclosed by Relaxo Footwears for the procurement of renewable energy. The aim is to support the company’s manufacturing facilities located in the state of Haryana through a group captive mechanism. As a result of this share acquisition, Clean Max MUOI Private Limited is now officially recognized as an ‘Associate’ of Relaxo Footwears Limited.
Confirmation of No Other Material Changes
Relaxo Footwears also confirmed that, apart from the update regarding the acquisition of equity shares in the SPV, there have been no other significant changes to the disclosures previously made by the company concerning Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
Source: BSE
