Acquisitions9 May 2026, 10:00 am
Tata Communications Acquires 26% Stake in Clean Max Yuhdul
AI Summary
Tata Communications Ltd has entered into a Share Purchase Agreement on May 8, 2026, with Clean Max Enviro Energy Solutions Limited and its subsidiary Clean Max Yuhdul Private Limited to acquire 2,600 equity shares, representing a 26% stake in the SPV. The aggregate consideration for this acquisition is ₹26,000. The objective is to support Tata Communications' sustainability goals by advancing its carbon neutrality and net-zero targets, while improving energy cost efficiency through increased use of renewable energy. The transaction will enhance the company’s renewable energy footprint at its offices in Karnataka through captive power consumption.
Key Highlights
- Tata Communications acquires a 26% stake in Clean Max Yuhdul Private Limited.
- The acquisition consideration is ₹26,000 for 2,600 equity shares.
- The deal aims to support Tata Communications' sustainability and carbon neutrality goals.
- The acquisition will enhance renewable energy footprint in Karnataka offices.
- Clean Max Yuhdul is in the business of power generation through solar/wind energy.