BASF India Limited disclosed that its Board of Directors, at a meeting held on August 4, 2026, approved the acquisition of a 14.18% stake in the equity share capital of Clean Max Galapagos Private Limited. Clean Max Galapagos is a Special Purpose Vehicle incorporated by Clean Max Enviro Energy Solutions Limited (referred to as "the Developer").
The acquisition amount will not exceed INR 9.45 million (₹9.45 crore). The purpose of this investment is to procure approximately 4,240 MWh per year of renewable power (solar), including green attributes, for BASF India's manufacturing site in Navi Mumbai. This procurement will be executed under the Group Captive Power Generation Mechanism, in accordance with the prevailing renewable energy policy of the State of Maharashtra and the Electricity Act 2003 and its Rules.
The transaction closure is contingent upon several conditions, including the signing of Definitive Agreements (specifically a Shareholders' Agreement and a 25-year long-term Power Purchase Agreement), receipt of requisite approvals, and fulfillment of other specified conditions.
The disclosure explicitly states that this acquisition does not constitute a related party transaction. Additionally, it confirms that none of the promoter or promoter group companies of BASF India hold any stake or interest in Clean Max Galapagos Private Limited.
The Board meeting commenced at 12:30 p.m. and concluded at 1:45 p.m. on August 4, 2026.
The disclosure was made to BSE Limited and was also circulated to the National Stock Exchange of India Limited for compliance purposes.