Clean Max Enviro Energy Solutions Limited has approved the partial divestment of its wholly owned subsidiary, Clean Max Dynamis Private Limited, as part of a planned share transfer to Sunvik Steels Private Limited.
According to the company’s regulatory filing, the Board of Directors has approved the sale of 4,900 equity shares in Clean Max Dynamis, representing 49% of its total paid-up share capital. The shares will be sold to Bangalore-based Sunvik Steels Private Limited for a total consideration of INR 49,000. The payment will be made following the execution of the Share Purchase Agreement (SPA).
Clean Max Dynamis Private Limited was incorporated on July 28, 2026. As the subsidiary was established recently, it did not record any turnover, revenue, or income during the previous financial year. It also made no contribution to the net worth of Clean Max Enviro Energy Solutions during that period.
The company plans to execute the Share Purchase Agreement on or before December 31, 2026. The completion of the share sale and transfer is also expected by December 31, 2026, unless the parties mutually agree to another date.
Clean Max Enviro Energy Solutions stated that the proposed transaction does not qualify as a related party transaction. The transaction is also not being carried out under any scheme of arrangement.
The company further disclosed that Sunvik Steels Private Limited is not related to the promoter, promoter group, or group companies of Clean Max Enviro Energy Solutions.
The disclosure has been made under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The filing was signed by Ullash Parida, Company Secretary and Compliance Officer of Clean Max Enviro Energy Solutions Limited.
Subscribe to get the latest posts sent to your email.
