Astec LifeSciences Limited has completed the divestment of its entire equity stake in Clean Max Andes Private Limited, marking its exit from the solar power special purpose vehicle. The transaction was executed on 9th March, 2026, with completion expected by 10th March, 2026.

Transaction Details

The divestment involved the sale of the company's complete holding in Clean Max Andes Private Limited. The transaction details are as follows:

About Clean Max Andes Private Limited

Clean Max Andes Private Limited was established as a special purpose vehicle in collaboration with Clean Max Enviro Energy Solutions Limited. The company was incorporated specifically for the generation of solar power under the group captive model, operating in accordance with the Electricity Act, 2003 and the Electricity Rules, 2005.

Buyer Information and Transaction Nature

The buyer of the equity stake is Clean Max Enviro Energy Solutions Limited, which does not belong to Astec LifeSciences' promoter, promoter group, or group companies. The company has confirmed that this transaction does not constitute a related party transaction and falls outside any scheme of arrangement.

Regulatory Compliance

The divestment has been disclosed in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the requirements outlined in SEBI Circular Ref. No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024, relating to disinvestment disclosures.

The transaction represents Astec LifeSciences' strategic decision to exit its investment in the solar power generation venture, allowing the company to focus on its core business operations.

Astec lifesciences Limited has completed the allotment of 577 equity shares under its Employee Stock Option Plan (ESOP) 2012, as approved by the company's Nomination and Remuneration Committee on 24th February, 2026. The allotment represents the exercise of stock options granted to employees under the company's incentive program.

ESOP Exercise Details

The allotment comprised options exercised under two different schemes within the ESOP 2012 framework:

The original Employee Stock Option Plan 2012 was approved by shareholders through a special resolution at an extraordinary general meeting held on 27th March, 2012. The amended version received shareholder approval via special resolution through postal ballot on 26th September, 2021, with results declared on 27th September, 2021.

Share Capital Impact

Following the allotment of 577 equity shares, each with a face value of Rs. 10.00, the company's capital structure has been updated:

The newly allotted shares rank pari passu with existing equity shares and are fully paid up. This allotment reflects the company's ongoing commitment to its employee incentive programs and provides employees with the opportunity to participate in the company's equity growth.

Regulatory Compliance

The allotment was conducted in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both BSE Limited and National Stock Exchange of India Limited about this corporate action, ensuring full transparency with market regulators and stakeholders.