Clean Max Enviro Energy Solutions Limited has acquired 100% equity shares in Kintech Solarbikaner Private Limited for INR 38.06 crores through a Share Purchase Agreement executed on 16 March 2026. The acquisition targets expansion of wind-solar hybrid renewable energy capacity in Gujarat. Kintech Solarbikaner, incorporated in 2023 for renewable energy generation, currently has a net worth of INR -82,690 and zero turnover. The cash-based transaction is expected to complete by 31 March 2026.

Clean Max Enviro Energy Solutions Acquires Kintech Solarbikaner for INR 38.06 Crores

Clean Max Enviro Energy Solutions Limited has announced a strategic acquisition to expand its renewable energy footprint in Gujarat. The company has entered into a Share Purchase Agreement on 16 March 2026 for the complete acquisition of Kintech Solarbikaner Private Limited, marking a significant step in its growth strategy.

Transaction Overview

The acquisition involves a 100% equity stake purchase in Kintech Solarbikaner Private Limited for an enterprise value of INR 38.06 crores. The transaction is structured as a cash consideration deal, with completion targeted by 31 March 2026.

Parameter: Details Transaction Value: INR 38.06 crores Shareholding Acquired: 100% Payment Method: Cash consideration Completion Date: 31 March 2026 Agreement Date: 16 March 2026

Target Company Profile

Kintech Solarbikaner Private Limited operates in the renewable energy generation sector and was incorporated on 31 May 2023. The company's current financial position reflects its early-stage status in the renewable energy market.

Financial Metric: Value Net Worth (FY '25): INR -82,690 Turnover (FY '24): INR 0 Turnover (FY '25): INR 0 Industry: Renewable energy generation Country Presence: India

Strategic Rationale

The acquisition aligns with Clean Max Enviro Energy Solutions Limited's expansion strategy in the renewable energy sector. The company has identified specific strategic benefits from this transaction:

Enable growth and development of wind-solar hybrid renewable energy capacity

Establish stronger presence in Gujarat state

Expand renewable energy generation capabilities

Strengthen market position in the hybrid energy segment

Regulatory Compliance

The transaction has been disclosed under Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The acquisition does not fall within related party transactions, and no governmental or regulatory approvals are required for completion.

Company Leadership

The disclosure was signed by Ullash Parida, Company Secretary and Compliance Officer (Membership No.: FCS 8689), confirming the company's commitment to transparent corporate governance and regulatory compliance in this strategic acquisition.

Clean Max Enviro Energy Solutions Limited has announced its decision to exercise early redemption rights for its non-convertible debentures, marking a significant step in the company's debt restructuring strategy. The solar energy solutions provider filed the intimation with stock exchanges on March 12, 2026, detailing the redemption of debentures worth INR 499,00,00,000.

Debenture Redemption Details

The company will redeem 4,990 senior, redeemable, listed, rated, zero coupon, non-convertible debentures, each with a face value of INR 10,00,000. The redemption is scheduled for April 2, 2026, with the record date fixed for March 18, 2026.

Parameter Details Total Debentures 4,990 units Face Value per Debenture INR 10,00,000 Total Principal Amount INR 499,00,00,000 Redemption Date April 2, 2026 Record Date March 18, 2026

Investor-wise Redemption Breakdown

The redemption covers nine institutional investors, with Allianz Global Investors holding the largest exposure across multiple funds. The early redemption amounts include accrued interest for the period from April 1 to April 2, 2026.

Debenture Holder Principal Value (INR) Accrued Interest (INR) Total Redemption Amount (INR) Allianz Global Investors (APAV Fonds) 9,30,00,000 65,203 9,30,65,203 Allianz Global Investors (RFG Fonds) 9,30,00,000 65,203 9,30,65,203 Allianz Global Investors (VGI 1 Fonds) 8,30,00,000 58,193 8,30,58,193 Allianz Global Investors (VGL Fonds) 1,94,60,00,000 13,64,362 1,94,73,64,362 Allianz Global Investors (VK Rentendirekt Fonds) 27,50,00,000 1,92,806 27,51,92,806 IL&FS Infrastructure Debt Fund Series-2B 50,00,00,000 3,15,500 50,03,15,500 IL&FS Infrastructure Debt Fund Series 2C 25,00,00,000 1,57,750 25,01,57,750 Nomura Capital (India) Private Limited 1,00,00,00,000 6,31,000 1,00,06,31,000 Nomura Investments (Singapore) Pte Ltd 75,00,00,000 5,56,765 75,05,56,765

IPO Proceeds for Debt Prepayment

The company intends to use proceeds from its initial public offer to prepay the redemption amounts. The prepayment notice indicates that CleanMax is planning to list its shares on stock exchanges and utilize the IPO funds for comprehensive debt restructuring.

The total accrued interest for the one-day period amounts to INR 34,06,782, with regular interest payments up to March 31, 2026, to be made in the normal course. The company has obtained necessary approvals from debenture holders and trustees for the early redemption.

Regulatory Compliance and Documentation

CleanMax has fulfilled all regulatory requirements under SEBI regulations, including proper notice to Vistra ITCL (India) Limited, the debenture trustee. The company has also received confirmations from all major debenture holders, including Allianz Global Investors, Nomura entities, and IL&FS Infrastructure Debt Funds, approving the early redemption terms.

The debentures were originally issued through private placement under a debenture trust deed dated May 6, 2022, which has been amended and restated multiple times, with the latest amendment on January 12, 2026.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.