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Steel Strips Wheels acquires 26% stake in Clean Max Astria

23 Dec 2022 Evaluate

Steel Strips Wheels (SSWL) has acquired 2,600 shares of Rs 10 each (26% stake of paid-up share capital) in Clean Max Astria for a consideration of Rs 26,000 and will further invest, in one or more tranches, about Rs 3.96 crore in Clean Max Astria maintaining its shareholding to 26% of the paid-up share capital as per the Shareholders’ Agreement.

The acquisition is for establishing and developing wind and solar hybrid power generation facilities in Gujarat, having wind turbine generators of 3.3 MVA capacity and a solar capacity of 2.64 MWp (DC) (Project) by entering to Energy Supply Agreement and Shareholders Agreement. The power generated from the Project will be supplied exclusively to SSWL and Clean Max Astria will be the operator of the entire Project as Generator.

SSWL is engaged in the manufacturing of single piece steel wheel rims for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.

Steel Strips Wheels Share Price

220.75 7.90 (3.71%)
17-Apr-2026 16:59 View Price Chart
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