Clean Max Enviro Energy Solutions to Acquire 100 Percent Stake in Kintech Solarbikaner for INR 38.06 Crore

Clean Max Enviro Energy Solutions Ltd. has entered into a share purchase agreement to acquire 100 percent equity stake in Kintech Solarbikaner Pvt. Ltd. from Kintech Synergy Pvt. Ltd. 

According to a regulatory filing, the acquisition will be completed through cash consideration, with the transaction valued at an enterprise value of INR 38.06 crore. The company expects to complete the acquisition by March 31, 2026.

The target company, Kintech Solarbikaner Pvt.Ltd., was incorporated on May 31, 2023, and operates in the renewable energy generation sector. As of FY25, the company reported zero turnover and a net worth of INR 82,690, indicating that it is likely a project-specific special purpose vehicle (SPV) established for renewable energy development.

Clean Max stated that the acquisition will support the expansion of its wind-solar hybrid renewable energy portfolio, particularly to enable further development of hybrid renewable capacity in Gujarat.