Definitive agreements executed for proposed investment in Clean Max MUOI SPV for renewable energy supply

The company has executed definitive agreements with Clean Max MUOI Private Limited (called the SPV) and Clean Max Enviro Energy Solutions Limited (promoter of the SPV).

Mon 5 Oct 2026

Agreements Executed

Energy Supply Agreement, Investment Agreement (Share Purchase and Shareholding Agreement) and Performance Incentive Agreement

Counterparties

Clean Max MUOI Private Limited (the SPV) and Clean Max Enviro Energy Solutions Limited (promoter of the SPV)

Purpose

Proposed investment in the SPV for procurement of renewable energy under the group captive mechanism

Facilities Covered

The company's manufacturing facilities in Haryana

Status Note

Continues earlier intimations; no other changes to those disclosures

What was announced

The company has, on October 05, 2026, executed definitive agreements with Clean Max MUOI Private Limited, referred to in the update as the SPV, and Clean Max Enviro Energy Solutions Limited, described as the promoter of the SPV.

The update is a continuation of the earlier intimations made by the company dated May 28, 2026 and June 16, 2026.

The agreements that were executed

• Energy Supply Agreement
• Investment Agreement (Share Purchase and Shareholding Agreement)
• Performance Incentive Agreement

What these agreements are for

The update states that the agreements have been executed in connection with a proposed investment by the company in the SPV, for procurement of renewable energy under the group captive mechanism, for the company's manufacturing facilities located in the state of Haryana.

How to read this update

The step disclosed here is the execution of definitive agreements, meaning the final signed contracts, between the company and the SPV and its promoter.

The update describes the investment itself as proposed, so the agreements relate to that proposed investment.

The company also states that, except for the execution of these agreements, there are no changes to the disclosures it made earlier.

What this update is not

It is an update on the status of a transaction the company had already intimated. It records the signing of the agreements; the operative terms of those agreements are not set out in this disclosure.

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