Investment11 Jun 2026, 04:24 pm
GACL Invests ₹32.33 Cr in Cleanmax Sphere Energy
AI Summary
Gujarat Alkalies and Chemicals Ltd (GACL) has invested ₹32,32,97,915 in Cleanmax Sphere Energy Private Limited to maintain its 26% shareholding. This investment is part of a right issue by Cleanmax Sphere Energy for setting up a 75.9 MW Renewable Hybrid Power Project. The project is intended for 100% captive use by GACL. The acquisition price per share was ₹205 (₹10 face value + ₹195 premium), and GACL acquired an additional 15,77,063 equity shares. Cleanmax Sphere Energy Private Limited was incorporated on June 12, 2020, and is yet to commence business operations.
Key Highlights
- GACL invested ₹32.33 Cr to maintain 26% stake in Cleanmax Sphere Energy.
- Investment supports a 75.9 MW Renewable Hybrid Power Project.
- Project is for GACL's 100% captive power use.
- Acquisition price was ₹205 per share.
- Cleanmax Sphere Energy is a Special Purpose Vehicle incorporated in 2020.
Price Impact
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