Augment Infrastructure, a fund manager that focuses on growth strategies in renewable energy and sustainable infrastructure, recently completed its second partial exit from its Indian portfolio company CleanMax, the firm announced on LinkedIn.
CleanMax is India’s largest pure-play commercial and industrial (C&I) renewable-energy company. Its portfolio spans India and global markets, including the UAE, Bahrain and Thailand. CleanMax has 2.5 gigawatts of operational capacity and strategic collaborations with Osaka Gas, Toyota Tsusho and Apple, according to the company’s website.
In 2021, Augment Infrastructure acquired a majority stake in CleanMax from Warburg Pincus and the International Finance Corp. for INR16.5 billion (approximately $188 million).
In 2023, Augment Infrastructure achieved a partial exit from CleanMax by selling some of its shares to Brookfield. And in August 2025, CleanMax filed for an initial public offering with Augment Infrastructure
