Augment Infra invests Rs 1,650 cr in Cleanmax for majority stake

Augment Infrastructure, a US-based investor, on Thursday announced a Rs 1,650 crore investment to buy a majority stake in rooftop solar solutions provider Cleanmax. Augment’s investment involves purchase of stakes from an affiliate of private equity major Warburg Pincus and World Bank Group member International Finance Corporation, who are exiting their investment, and also a primary investment, an official statement said.

It, however, did not disclose the exact stakes bought or offered any details on the enterprise valuation.