CleanMax Appoints New Projects Head, Divests 26% Stakes In Three Subsidiaries

Clean Max Enviro Energy Solutions Limited has announced a series of strategic corporate developments, including the appointment of a senior projects executive and equity divestments in three of its subsidiaries. The decisions were approved by the company’s Board of Directors on September 21, 2026.

The company has entered into agreements to divest minority stakes in three wholly owned subsidiaries. CleanMax will sell 2,600 equity shares, representing a 26% stake in Clean Max Kyuu Private Limited, to Strata Geosystems (India) Private Limited for ₹26,000. The subsidiary was incorporated in 2026 and has not contributed to CleanMax’s turnover or revenue.

In a similar transaction, CleanMax will sell 2,600 shares, equivalent to a 26% stake in Clean Max Roku Private Limited, to Goodluck India Limited for ₹26,000. The company was also incorporated in 2026 and has not contributed to the parent company’s revenue.

CleanMax has further approved revised terms for the proposed sale of 2,600 equity shares, representing a 26% stake in Clean Max Ilgohp Private Limited, to Nuvoco Vistas Corporation Limited for ₹26,000. The transaction follows an earlier disclosure dated April 28, 2026. Clean Max Ilgohp reported zero turnover during FY2025–26 and had a net worth of negative ₹69,252.

CleanMax stated that Strata Geosystems, Goodluck India, and Nuvoco Vistas are not part of its promoter or promoter group and that the transactions do not constitute related-party transactions. The definitive Share Purchase Agreements for all three transactions are expected to be executed by December 31, 2026.

CleanMax has also appointed Vipin Balan as its new Head of Projects. Balan brings more than 31 years of experience across India’s wind and solar energy sectors, with expertise spanning project development, construction, investment management, and commercial operations. Before joining CleanMax, he held senior positions at organizations including General Electric Renewables, Enel Green Power, British Petroleum, Enercon, Regen Powertech, and CIP Terra Technologies. He is a mechanical engineer and holds a Post Graduate Diploma in Management in Marketing.