BASF India has received approval for the acquisition of 14.18% stake in the equity share capital of Clean Max Galapagos, Special Purpose Vehicle incorporated by Clean Max Enviro Energy Solutions (the Developer).
This strategic move aims to procure around 4,240 MWh / per year (including green attributes) of renewable power (solar) for its Navi Mumbai manufacturing site under Group Captive Power Generation Mechanism, as per the prevailing renewable energy policy of the State of Maharashtra and the Electricity Act 2003 and the Rules thereunder.
The closing of the transaction is subject to signing of the Definitive Agreements i.e., Shareholders’ Agreement and 25-year long-term Power Purchase Agreement, receipt of the requisite approvals and other specified conditions. The Board of Directors of the Company at its meeting held on August 4, 2026 has approved the same.
BASF India was incorporated in 1943 and one of the leading company in chemical sector.
| Company Name | CMP |
|---|---|
| SRF | 2616.50 |
| BASF India | 4088.65 |
| Pidilite Inds. | 1662.00 |
| Tata Chemicals | 673.45 |
| GNFC | 535.35 |
| View more.. | |
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