Clean Max Appoints Head Projects, Sells Three Subsidiary Stakes

Appointment of Mr. Vipin Balan as Head Projects

Date of Appointment: 21 September 2026
Term: Full-Time Employment
Designation: Senior Management Personnel
Profile: Mr. Vipin is a seasoned renewable energy professional with over 31 years of experience in wind and solar energy projects across India. He has strong expertise in project development, project execution, construction, investment management, and commercial operations. He has held senior positions with reputed organisations including CIP Terra Technologies, Enel Green Power, GE Renewables, Regen Powertech, British Petroleum, and Enercon. His experience includes leading teams and managing large-scale renewable energy projects across different stages of development and execution. Mr. Vipin is a Mechanical Engineer with a PGDM in Marketing.
Relationships between directors: Not Applicable

Clean Max Kyuu Private Limited Disinvestment

Target Entity: Clean Max Kyuu Private Limited
Percentage Stake Disinvested: 2,600 shares (26% of total paid-up share capital)
Post-Transaction Holding: Company will no longer hold 100% stake (reduced to 74%)
Counterparty/Buyer: Strata Geosystems (India) Private Limited
Mode of Consideration: Cash
Consideration Amount: INR 26,000
Valuation Basis: Not specified
Related Party Status: No - buyer does not belong to promoter/promoter group/group companies
Expected Agreement Date: On or before 31 December 2026 or mutually agreed date
Expected Completion Date: On or before 31 December 2026 or mutually agreed date

Clean Max Roku Private Limited Disinvestment

Target Entity: Clean Max Roku Private Limited
Percentage Stake Disinvested: 2,600 shares (26% of total paid-up share capital)
Post-Transaction Holding: Company will no longer hold 100% stake (reduced to 74%)
Counterparty/Buyer: Goodluck India Limited
Mode of Consideration: Cash
Consideration Amount: INR 26,000
Valuation Basis: Not specified
Related Party Status: No - buyer does not belong to promoter/promoter group/group companies
Expected Agreement Date: On or before 31 December 2026 or mutually agreed date
Expected Completion Date: On or before 31 December 2026 or mutually agreed date

Clean Max Ilgohp Private Limited Disinvestment

Target Entity: Clean Max Ilgohp Private Limited
Percentage Stake Disinvested: 2,600 shares (26% of total paid-up share capital)
Post-Transaction Holding: Company will no longer hold 100% stake (reduced to 74%)
Counterparty/Buyer: Nuvoco Vistas Corporation Limited
Mode of Consideration: Cash
Consideration Amount: INR 26,000
Valuation Basis: Not specified
Related Party Status: No - buyer does not belong to promoter/promoter group/group companies
Expected Agreement Date: On or before 31 December 2026 or mutually agreed date
Expected Completion Date: On or before 31 December 2026 or mutually agreed date
Note: This is a revision of terms from the previous disclosure dated 28 April 2026

Clean Max Kyuu Private Limited

Incorporated: 19 June 2026 under Companies Act, 2013
Financial Contribution: Has not contributed to turnover, revenue, income or net worth during last financial year

Clean Max Roku Private Limited

Incorporated: 20 April 2026 under Companies Act, 2013
Financial Contribution: Has not contributed to turnover, revenue, income or net worth during last financial year

Clean Max Ilgohp Private Limited

Financial Performance: Turnover for FY 2025-26 is Nil
Net Worth: INR -69,252 (0% of Consolidated Networth of the Company as on 31 March 2026)

No other disclosures are present in the document.