Clean Max Enviro bulk deal: Augment India divests stakes worth Rs 1,096 crore; Goldman Sachs, HSBC India among buyers

Augment India I Holdings LLC on Monday divested shares worth around Rs 1,096.07 crore in Clean Max Enviro Energy Solutions through two bulk deals on the National Stock Exchange, with Goldman Sachs Investments Mauritius I Limited and HSBC India Infrastructure Equity Mother Fund being among the buyers.

According to NSE bulk-deal data, Augment India I Holdings LLC sold 8,69,152 shares at Rs 1,288.40 apiece and another 76,33,385 shares at Rs 1,289.01 apiece. The two transactions together involved 85,02,537 shares.

On the buying side, HSBC India Infrastructure Equity Mother Fund bought 7,88,000 shares at Rs 1,288.40 apiece, while ICICI Prudential Life Insurance Company bought 11,15,384 shares at the same price.

Goldman Sachs Investments Mauritius I Limited purchased 7,18,539 shares at Rs 1,289.04 apiece. Together, the three buyers acquired 26,21,923 shares, with the transactions valued at around Rs 337.86 crore.

According to shareholding data available on the BSE, Augment India Holdings LLC held 1,11,40,172 shares, representing a 9.50% stake in Clean Max Enviro Energy Solutions as of June 30, 2026.

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Shares of Clean Max Enviro Energy Solutions ended Monday's trading session at Rs 1,378.35 apiece, down 1.02% from the previous close of Rs 1,392.55 on the BSE. The stock traded in a range of Rs 1,473.90 to Rs 1,301.00 during the session. The power generation company had a market capitalization of Rs 16,202.42 crore on the BSE.

Macquarie initiated coverage on CleanMax with an Outperform rating and a target price of Rs 1,700, expecting the company's installed capacity to more than double to around 8 GW by FY29E. It highlighted repeat commercial and industrial (C&I) business and Data & AI transactions as potential growth drivers, while flagging regulatory, execution and dilution risks.

JM Financial has a Buy rating on the stock with a target price of Rs 1,501. It expects C&I demand to remain strong, supported by rising electrification, captive power requirements and data-centre growth. The brokerage said CleanMax's C&I presence and customer stickiness position it to benefit from higher corporate demand for renewable power.

Disclosure: This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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