Augment Infra Sells 7.2% Stake in Clean Max Enviro Energy for Rs 1,096 Cr

New Delhi: US-based Augment Infrastructure has divested a 7.2 per cent stake in renewable energy player Clean Max Enviro Energy Solutions for Rs 1,096 crore through separate bulk deals on Monday.

Augment Infrastructure, through its affiliate Augment India I Holdings LLC, sold 85.02 lakh shares in two tranches, representing a 7.25 per cent stake in Mumbai-based Clean Max Enviro Energy Solutions, according to exchange data on the NSE.

The shares were offloaded in the price range of Rs 1,288.40-1,289.01 apiece, taking the aggregate value to Rs 1,095.93 crore.

Following the transaction, Augment India I Holdings’ equity stake in Clean Max has dropped to 2.25 per cent from 9.5 per cent.

Meanwhile, HSBC Mutual Fund, ICICI Prudential Life Insurance Company and Goldman Sachs bought a total of 26.21 lakh shares, amounting to a combined 2.24 per cent stake in Clean Max.

The shares were acquired in the price range of Rs 1,288.40-1,289.04 per piece, taking the combined deal value to Rs 337.85 crore.

Details of other buyers of Clean Max’s shares could not be identified from the National Stock Exchange (NSE).

Shares of Clean Max Enviro Energy Solutions fell 2.04 per cent to close at Rs 1,365 apiece on the NSE.

Augment Infrastructure was established in 2021 by a team that spun out of the International Finance Corporation (IFC) after more than 20 years of managing global infrastructure strategies for IFC and IFC Asset Management Company.

Renewable energy solutions provider Clean Max Enviro Energy on Monday said that it has raised Rs 2,500 crore through the issuance of green debt securities on a private placement basis.

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