Welspun Corp: Proposed sale of 26% stake in Clean Max Dhyuthi cancelled
WELCORP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Welspun Corp informed exchanges that the proposed sale of its 26% equity stake (48,599 shares of Rs 10 each) in Clean Max Dhyuthi Private Limited to promoter group firm Welspun Living Limited for Rs 760 lakhs has been cancelled. Both parties mutually agreed not to proceed due to current power demand, supply and availability conditions at the relevant location. The deal was originally approved by the board on 21st May 2026 and was to complete by 31st August 2026. CleanMax operates in solar and renewable energy under a captive model.
No material financial impact. WCL retains its 26% stake in Clean Max Dhyuthi. Removes uncertainty around the earlier proposed divestment.