In a move that’s left the market buzzing, Smartworks, India’s fast-growing managed office space provider, has suddenly slashed its stake in Cleanmax from nearly 25% to just over
In a move that’s left the market buzzing, Smartworks, India’s fast-growing managed office space provider, has suddenly slashed its stake in Cleanmax from nearly 25% to just over 9% — selling shares worth close to ₹1 crore.
This isn’t just a small portfolio shuffle. It’s a bold exit that raises serious questions: Why is Smartworks backing away from Cleanmax now? What’s really behind this sudden stake dump?
Here’s what we know: The deal was done quietly but strategically, with Smartworks selling the shares to Clean Max Enviro Energy Solutions Limited. Because the buyer isn’t part of Smartworks’ promoter group, this won’t be treated as a related-party transaction — meaning no cozy insider deal here. It’s a clean break.
The impact? Smartworks will no longer count Cleanmax as an associate company. For a firm that only debuted on the stock market last month and has been riding high with a 21% revenue jump and an 82% cut in losses, this move feels like a curveball.
Smartworks raised over ₹580 crore in its IPO, and its stock has been riding the momentum, valued at a hefty ₹5,432 crore. So why throw away a chunk of your investment now?
Experts say this is a classic case of “sharpening focus.” Cleanmax operates in renewable energy — a sector quite different from Smartworks’ core turf of managed office spaces. The sale could be freeing up cash to turbocharge growth where it really counts, especially as demand for flexible workspaces skyrockets post-pandemic.
But there’s another side to this story. The relatively modest ₹99 lakh price tag for a 15%+ stake raise eyebrows. Is Smartworks offloading the stake at a discount? Is there trouble lurking under the surface at Cleanmax?
No official answers yet — but one thing is clear: Smartworks is sending a message to the market. It’s trimming the fat, focusing on what makes it money, and possibly preparing for bigger moves ahead.
Investors are watching closely. Could this stake sale be the first sign of a major strategic pivot? Or is Smartworks quietly distancing itself from a risky investment?
Whatever the case, one thing’s certain: this isn’t just another routine stake sale. It’s a move that could reshape Smartworks’ future — and investors won’t want to blink.
