Augment Infrastructure sells 7.25% Clean Max stake for ₹1,096 crore
HSBC Mutual Fund, ICICI Prudential Life Insurance and Goldman Sachs bought a combined 2.24 per cent stake in Clean Max
Augment Infrastructure has sold a 7.25% stake in renewable energy firm Clean Max Enviro Energy Solutions for ₹1,096 crore. The company, through its subsidiary Augment India I Holdings LLC, offloaded 85.02 lakh shares in two tranches, representing 7.25% of the Mumbai-based Clean Max's stake. The shares were traded at ₹1,288.40-1,289.01 per piece, totaling ₹1,095.93 crore.
After the transaction, Augment India I Holdings' equity stake in Clean Max dropped to 2.25% from 9.5%. Investment firms HSBC Mutual Fund, ICICI Prudential Life Insurance Company, and Goldman Sachs purchased 26.21 lakh shares, securing a combined 2.24% stake, with a combined deal value of ₹337.85 crore. The remaining buyers' identities were not disclosed by the National Stock Exchange.
Clean Max Enviro Energy Solutions' shares dropped 2.04% to close at ₹1,365 on the NSE. Augment Infrastructure was founded in 2021 by a team that previously worked at the International Finance Corporation (IFC) for over 20 years managing global infrastructure strategies. Renewable energy firm Clean Max announced on Monday that it raised ₹2,500 crore through the issuance of green debt securities on a private placement basis.
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