Clean Max Enviro Energy Solutions has approved the sale of a 49% stake in its wholly owned subsidiary, Clean Max Dynamis Private Limited, to Sunvik Steels Private Limited. The board authorized the transaction on September 9, 2026.

The deal involves the transfer of 4,900 shares for a total consideration of ₹49,000. Clean Max Dynamis was incorporated on July 28, 2026, and has not contributed to the parent company’s turnover, revenue, income, or net worth during the last financial year.

Transaction Details

The company will execute the Share Purchase Agreement on or before December 31, 2026. Completion of the sale is also expected by this date or such other date as mutually agreed between the parties. Sunvik Steels, registered in Bangalore, is an independent entity and does not belong to the promoter group or group companies of Clean Max.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction is classified as non-related party and falls outside any Scheme of Arrangement.

Clean Max Enviro Energy Solutions disclosed that its shareholder Rikhab Investments B.V. created an encumbrance on 9,795,900 equity shares, representing 8.33% of the company’s total voting capital.

The disclosure was filed with the Bombay Stock Exchange and National Stock Exchange on September 7, 2026, pursuant to Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Catalyst Trusteeship Limited acted as the onshore agent for the filing.

Encumbrance Details

Rikhab Investments B.V. placed a ‘hold’ on the shares in the depository system on September 3, 2026. This action was taken to fulfill obligations under a non-disposal undertaking dated July 30, 2025, executed between Rikhab and the onshore agent.

The encumbrance is linked to a facility agreement dated July 30, 2025, between Rikhab and BGTF Loans Aggregator LP. The financing arrangement includes restrictions on transferring, disposing of, or further encumbering the securities held by Rikhab in Clean Max Enviro Energy Solutions.

Default Triggers

The disclosure notes that any breach of the undertakings provided by Rikhab will trigger two consequences:

• Mandatory prepayment of the relevant financing.
• An event of default under the terms of the financing agreement.

The pledge created over the shares of Rikhab issued to its shareholders is also treated as an encumbrance under the Takeover Regulations.

What the Numbers Show

The encumbrance covers a significant portion of the company’s equity, representing over 8% of the total voting capital. With no change in the total equity share capital of ₹11,75,31,710 divided into 11,75,31,710 equity shares, this move signals a substantial collateral arrangement tied to Rikhab’s external debt obligations rather than a change in ownership structure.