Clean Max Enviro Energy Solutions Limited has approved the sale of 2,600 shares, representing a 26% stake in its wholly-owned subsidiary, Clean Max Alps Private Limited, to Bayer Vapi Private Limited. The transaction is valued at INR 26,000. The agreement is expected to be finalized by December 31, 2026, with the subsidiary having been incorporated on December 18, 2024.
Subsidiary Stake Divestment Approved
Clean Max Enviro Energy Solutions Limited announced that its Board of Directors has approved the sale of a significant portion of its stake in a subsidiary. Specifically, 2,600 shares, which constitute 26% of the total paid-up share capital of Clean Max Alps Private Limited, will be sold to Bayer Vapi Private Limited. The total sale consideration for this divestment is INR 26,000.
Details of the Transaction
Clean Max Alps Private Limited was incorporated on December 18, 2024, and as such, has not yet contributed to the turnover, revenue, income, or net worth of the parent company during the last financial year. The agreement for the sale is anticipated to be entered into on or before December 31, 2026, with the completion of the sale/disposal expected by the same date, unless otherwise mutually agreed upon by the parties involved.
Buyer Information
The buyer, Bayer Vapi Private Limited, is an entity incorporated in India. Its registered office is located at Plot No 306/3, 2nd Phase, GIDC, Vapi, Gujarat. The company has confirmed that Bayer Vapi Private Limited does not belong to the promoter/promoter group/group companies of Clean Max Enviro Energy Solutions Limited, and the transaction is not considered a related party transaction.
Source: BSE
