Smartworks Coworking Spaces Limited has informed the Exchange about Diversification/Disinvestment
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Smartworks Coworking Spaces has completed the dilution of its stake in Clean Max DOS Private Limited (Cleanmax), an associate company. The company's shareholding in Cleanmax has reduced from 24.82% to 9.08%, with the sale agreement dated August 21, 2025 and completion on August 26, 2025. Net consideration received by Smartworks is approximately ₹99.08 lakh (₹99,07,807). The buyer is Clean Max Enviro Energy Solutions Limited, which is not a related party or part of the promoter group. All formalities and compliances related to the transaction have been completed.
This is a minor financial transaction for Smartworks, representing less than ₹1 crore in proceeds and involving a non-core associate company (Cleanmax operates in the clean energy space, unrelated to Smartworks' coworking business). The reduced stake from 24.82% to 9.08% means Smartworks will have limited influence over Cleanmax going forward. The financial impact on Smartworks is immaterial, and the stock is unlikely to react meaningfully to this disclosure.