BASF India Acquires 14.18% Stake in Clean Max Galapagos

BASF India Limited's Board of Directors has approved the acquisition of a 14.18% stake in Clean Max Galapagos Private Limited for an amount not exceeding INR 9.45 million. This acquisition is for the procurement of approximately 4,240 MWh per year of renewable solar power for its Navi Mumbai manufacturing site, under the Group Captive Power Generation Mechanism. The transaction is subject to the signing of definitive agreements, including a Shareholders' Agreement and a 25-year Power Purchase Agreement, along with other specified conditions. The company has clarified that this is not a related party transaction and does not involve any stake or interest from promoters or their group companies in the acquired entity.