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AIA Engineering to acquire stake in Clean Max Meridius

16 Dec 2022 Evaluate

AIA Engineering has executed Share Purchase agreement with Clean Max Enviro Energy Solutions (Promoter Shareholder) and Clean Max Meridius (CMPL) to acquire/ subscribe 2,600 Equity Shares of Rs 10 of CMPL for setting up a captive Hybrid (Solar & Wind) Power Project in Gujarat.

The Company will also sign and execute Energy Supply agreement with Clean Max Meridius for supplying contracted Hybrid (Solar & Wind) Energy to the Company as a Captive User. Pursuant to the above acquisition/subscription of shares, CMPL will become an Associate of the Company.

The Company wishes to offtake the Contracted Quantity of Electricity generated from the Project as a Captive User under intrastate open access arrangement for its manufacturing units in Gujarat in view of significant financial/commercial benefits. 

AIA Engineering, a certified ISO 9001 company, specialises in the design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant castings used in the cement, mining and thermal power generation industries.

AIA Engineering Share Price

3958.20 34.05 (0.87%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
AIA Engineering 3958.20
Alicon Castalloy 684.70
Nelcast 141.10
Steelcast 295.55
Synergy Green Inds. 514.80
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