CLEANMAXClean Max Enviro Energy Solutions Ltd.
Clean Max Enviro Energy Solutions to set up GIFT City treasury subsidiary
- Mergers & acquisitions
- renewable energy
Reviewed byKeshav SehgalBlacklitt Research
Clean Max Enviro Energy Solutions (NSE: CLEANMAX) plans to incorporate a wholly owned subsidiary at GIFT City, Gujarat, for Global Treasury Centre activities, it said in a filing on 03 Nov 2026. The Board approved the step on 3 Nov 2026, and the subsidiary is not yet incorporated.
What the subsidiary will do and how it is funded
The proposed subsidiary, to be named Clean Max Financial Services IFSC Private Limited or Clean Max Financial Solutions IFSC Private Limited, or another name approved by the Central Registration Centre or the Ministry of Corporate Affairs, will undertake Global Treasury Centre activities as permitted under the IFSCA (Finance Company) Regulations, 2021.
The parent will subscribe 21,00,000 equity shares of face value ₹10 each, a cash consideration of ₹2.10 crore, and will hold 100% of the company. The filing says necessary approvals will be obtained from the Central Registration Centre, the Ministry of Corporate Affairs and the International Financial Services Centres Authority, as may be applicable.
Scale of the step against the group
The initial subscription of ₹2.10 crore is small set against the company's market value of ₹14,370 crore at the 03 Nov 2026 close. The company's latest reported quarter, Q1 FY27 on a consolidated basis, showed total income of ₹874.10 crore and net profit of ₹55.17 crore.
The Board also approved, as a separate item in the same filing, non-convertible debentures on private placement of up to ₹3,000 crore. That is a different step from the subsidiary and is not part of its capital.
What the subsidiary means for Clean Max Enviro Energy Solutions' shareholders
The capital put in is nominal, and the subsidiary does not yet exist as a legal entity. The company does not say how the treasury business will relate to its existing renewable energy operations, what funding beyond the initial ₹2.10 crore it may provide, or when the subsidiary will start operations. The incorporation date is still to be determined and the final name may change, so the next step depends on approvals from the regulators named in the filing.
At a glance
| Item | Detail |
|---|---|
| Subsidiary | Clean Max Financial Services IFSC Private Limited, or Clean Max Financial Solutions IFSC Private Limited, or another approved name |
| Location | International Financial Services Centre, GIFT City, Gujarat |
| Incorporation | Not yet incorporated; date to be determined |
| Initial subscription | ₹2.10 crore cash for 21,00,000 equity shares of ₹10 each |
| Holding | 100% by Clean Max Enviro Energy Solutions Limited |
| Stated business | Global Treasury Centre activities under IFSCA (Finance Company) Regulations, 2021 |
| Board meeting | 3 Nov 2026 |
Filed with BSE on . Reference: Original filing (PDF)
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