Date: August 31, 2026
Transaction Cancellation Update
Welspun Living Limited has formally cancelled its previously approved acquisition of 48,599 equity shares (representing 26% of total paid-up equity share capital) in Clean Max Dhyuthi Private Limited from Welspun Corp Limited, a promoter group company. The transaction was originally approved by the Board of Directors on May 15, 2026, with a consideration of Rs. 760 lakhs (₹7.60 crore) and was scheduled for completion by August 31, 2026.
Reason for Cancellation
The cancellation resulted from a mutual agreement between Welspun Living Limited and Welspun Corp Limited based on assessment of current demand, supply and availability of power at the relevant location. Clean Max Dhyuthi Private Limited is primarily engaged in the generation and supply of solar and renewable energy under a captive model.
Financial Impact
The cancellation avoids an outflow of Rs. 7.60 crore that would have been invested in the renewable energy sector. No termination fees or other financial implications were disclosed.