BASF India Limited Acquires Stake in Clean Max Galapagos for Renewable Power Procurement

BASF India Limited Acquires Stake in Clean Max Galapagos for Renewable Power Procurement​

BASF India Limited has approved the acquisition of a significant stake in Clean Max Galapagos Private Limited, aiming to secure renewable power supply for its manufacturing operations in Navi Mumbai. The move is part of the company's strategy to utilize a Group Captive Power Generation Mechanism while adhering to state energy policies.

The Board of Directors at BASF India conducted the approval meeting on August 4, 2026. During this meeting, the acquisition of a 14.18% stake in the equity share capital of Clean Max Galapagos Private Limited was approved. This entity is incorporated by Clean Max Enviro Energy Solutions Limited, identified as 'the Developer'.

The transaction involves an amount not exceeding INR 9.45 mio and is specifically aimed at procuring renewable power for BASF's Navi Mumbai manufacturing site. The procured energy is solar power and will provide approximately ~ 4,240 MWh per year, including green attributes. This procurement is aligned with the prevailing renewable energy policy of the State of Maharashtra and the Electricity Act 2003.

The acquisition was confirmed to be not a related party transaction, and the company stated that neither the promoter nor any associated group companies hold any stake or interest in the acquired entity.

The completion of this strategic move is contingent upon several factors, including the signing of the Definitive Agreements, which include both the Shareholders' Agreement and a 25-year long-term Power Purchase Agreement. It also requires receiving requisite approvals and meeting other specified conditions.

BASF Stock Price Movement​

Shares of BASF India Limited are rallying strongly in live trading, climbing 11.43% and currently trading at ₹4156 as of 2:08 PM today. The stock has seen significant interest during the session, with over 230,596 shares traded so far.