Clean Max Enviro Energy Solutions Limited has informed the Exchange about execution of Share Purchase Agreement for sale of shares held by the Company in its wholly owned subsidiary, Clean Max Andes Private Limited to Web Werks India Private Limited
CLEANMAX · price
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Awaiting price reaction for this filing.
Clean Max Enviro Energy Solutions has signed a Share Purchase Agreement on 10 March 2026 to sell its entire stake in wholly owned subsidiary Clean Max Andes Private Limited to Web Werks India Private Limited. The consideration is just INR 26,000, reflecting the fact that the subsidiary had zero turnover in FY25 and a negative net worth of about INR -1.26 lakh. The buyer is not related to the promoter group, and the deal is expected to complete on or before 31 March 2026. The transaction is not a related party deal and falls outside any Scheme of Arrangement. This is essentially the disposal of a dormant, non-operating subsidiary.
Negligible financial impact for shareholders — the subsidiary contributed nothing to revenue or consolidated net worth. The disposal is housekeeping, helping the company streamline its corporate structure by shedding a shell entity, and is unlikely to move the stock price.