Gujarat Alkalies Invests ₹32.33 Crore in Cleanmax Sphere Energy for 26% Stake
Gujarat Alkalies and Chemicals Limited invested ₹32.33 crore in Cleanmax Sphere Energy Private Limited on June 11, 2026. This investment secures GACL's 26% stake in the SPV, which is developing a 75.9 MW renewable hybrid power project for the company's captive use. The SPV was incorporated in 2020.
The investment is significant in absolute terms and aligns with the company's strategic goals for renewable energy adoption, but it represents a minority stake in a project company and is for captive use, thus having a moderate impact on the overall business.
The investment in renewable energy for captive use is a positive step towards sustainability and cost efficiency for the company.
Gujarat Alkalies and Chemicals Limited (GACL) announced its participation in the right issue of Cleanmax Sphere Energy Private Limited, a Special Purpose Vehicle (SPV) focused on setting up a 75.9 MW Renewable Hybrid Power Project. GACL has contributed ₹32,32,97,915/- (Rupees thirty-two crore thirty-two lakh ninety-seven thousand nine hundred and fifteen) in cash towards equity share capital, maintaining its existing 26% shareholding in the SPV.
The consideration was paid on 11.06.2026, with the shares to be allotted to GACL's demat account in due course. This acquisition is for the purpose of establishing the renewable power project for GACL's 100% captive use. The SPV, incorporated on 12/06/2020, operates in the renewable energy sector. Its business is outside GACL's main line of operations, and it has not yet commenced business operations, hence turnover for the last three years is not applicable. The acquisition price was ₹205 per share, comprising a face value of ₹10 and a premium of ₹195, resulting in GACL acquiring 15,77,063 equity shares.
This disclosure is made in accordance with Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and further to previous communications on the matter.
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Gujarat Alkalies and Chemicals Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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