Clean Max Enviro Energy Solutions Limited has announced that Apple India Private Limited completed its acquisition of equity shares in Clean Max Taurus Private Limited on 14 May 2026. The transaction was executed on a private placement basis, following which Clean Max Taurus Private Limited ceased to be a wholly owned subsidiary of the Company. This development marks the finalization of the strategic co-investment agreement between the parties, valued at approximately INR 100 crore.

Transaction Overview

The completion follows a series of milestones under the amended and restated investment agreement dated 6 May 2026. Prior to Apple India's investment, the Company had acquired 2,38,732 equity shares of Clean Max Taurus Private Limited on 7 May 2026. Subsequently, Taurus acquired the shareholding of three identified subsidiary SPVs from the Company. The sale of equity shares of Clean Max Ganga Private Limited and Clean Max Kruger Private Limited was completed on 7 May 2026, followed by the sale of equity shares of Clean Max Sapphire Private Limited on 11 May 2026.

SPV Transfer Details

The shareholding and consideration details for the three SPVs transferred to Taurus are outlined below.

Strategic Context

The partnership reflects a shared commitment to enabling corporate clean energy transition and advancing low-carbon infrastructure. With the completion of Apple India's investment, the post-investment shareholding in Taurus stands at approximately 51% for the Company and 49% for Apple India. The collaboration supports Apple's broader carbon neutrality goals and accelerates decarbonization within India's Commercial & Industrial (C&I) sector.

Clean Max Enviro Energy Solutions Limited has recommended the re-appointment of Mr. Murzash Manekshana as a Non-Executive Non-Independent Director. The decision was taken by the Board of Directors during its meeting held on Tuesday, 12 May 2026. The re-appointment is subject to the approval of the company's members at the 16th Annual General Meeting.

Mr. Manekshana is liable to retire by rotation and, being eligible, has offered himself for re-appointment in terms of Section 152(6) of the Companies Act, 2013. The company has confirmed that he is not debarred from holding the office of Director by virtue of any SEBI Order or any other such authority.

Director Profile

Mr. Murzash Manekshana brings extensive experience to the role. He holds a bachelor's degree in commerce from the University of Bombay and is an associate member of the Institute of Chartered Accountants of India. His career spans over 28 years in the renewable energy, finance, and road infrastructure sectors.

Currently, he serves as a managing partner at Brookfield Advisors India Private Limited. His previous roles include deputy managing director at MEP Infrastructure Developers Limited and managing director with Altamount Capital Management Private Limited. He has also held significant positions at Halycon Resources and Management Private Limited, Prudential Process Management Services India Private Limited, Ernst & Young LLP, and Arthur Andersen and Associates.

Key Details

The following table outlines the key particulars regarding the proposed re-appointment:

The disclosure regarding this re-appointment has been made in compliance with Regulation 30 and 51 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The information will be available on the company's website.