IPO details · Updated
Clean Max Enviro Energy Solutions Limited
- Price Band
- ₹1,000 – ₹1,053
- Lot Size
- 14 shares
- Min. Investment
- ₹14,742
- Issue Size
- ₹3,100 Cr
- Offer Dates
- 23 Feb – 25 Feb 2026
- Listing
- 2 Mar 2026
Issue Details
- Total Issue Size
- ₹3,100 Cr
- 2,94,39,696 shares
- Fresh Issue
- ₹1,200 Cr
- 1,13,96,011 shares
- Offer for Sale
- ₹1,900 Cr
- 1,80,43,685 shares
- Face Value
- ₹1 per share
- Issue Type
- Book-built IPO
- Listing At
- BSE, NSE
- Shares Pre-Issue
- 10,14,41,820
- Shares Post-Issue
- 11,28,37,831
IPO Timeline
Offer opens
23 Feb 2026
Offer closes
25 Feb 2026
Allotment
26 Feb 2026
Listing
2 Mar 2026
Issue Allocation
Share of the offer reserved for each investor category
- QIB49.5%1,45,62,451 shares
- HNI14.8%43,68,735 shares
- Retail34.6%1,01,93,715 shares
- Employee1.1%3,14,795 shares
Subscription Status
Final subscription figures for this issue are not available yet.
Lot Size & Investment
1 lot = 14 shares
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 14 | ₹14,742 |
| Small HNI (S-HNI) | 14 | 196 | ₹2,06,388 |
| Big HNI (B-HNI) | 68 | 952 | ₹10,02,456 |
Financial Performance
Restated figures in ₹ crore, unless stated otherwise
| Period | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 16,945.7 | 13,279.3 | 9,076.6 | 7,000.1 |
| Profit After Tax | 19 | 19.4 | -37.6 | -59.5 |
| EBITDA | 637.9 | 1,015.1 | 741.6 | 405.9 |
| Net Worth | 2,598.3 | 2,545.4 | 1,818 | 1,209.9 |
Key Performance Indicators
| Period | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| RoNW (%) | 0.43 | 1.09 | -1.7 | -5.39 |
| EPS (₹) | 1.09 | 2.88 | -3.94 | -9.01 |
Peer Comparison
Listed companies in the same business
| Company | CMP | P/E |
|---|---|---|
| ACME Solar Holdings Ltd | ₹224.05 | 49.46 |
| NTPC Green Energy Ltd | ₹89.07 | 132.94 |
| Adani Green Energy Limited | ₹997.2 | 119.14 |
| ReNew Energy Global PLC | ₹484.68 | 44.84 |
About Clean Max Enviro Energy Solutions Limited
Clean Max Enviro Energy Solutions Limited is India’s largest commercial and industrial renewable energy provider, offering solar, wind and hybrid clean energy solutions through long-term PPAs, EPC services and carbon solutions.
Objects of the Issue
- Funding growth and expansion of renewable energy portfolio
- Debt repayment and balance sheet strengthening
- General corporate purposes
Company Information
Strengths (from RHP)
- India’s largest C&I renewable energy provider
- End-to-end EPC, O&M and carbon services capabilities
- Diverse customer base with long-term PPAs
Key risks (from RHP)
- Project execution and approval risks
- Long-term PPA termination risk
- Land acquisition and title challenges
- Book running lead managers
- Axis Capital Limited
- BNP Paribas
- BOB Capital Markets Limited
- HSBC Securities & Capital Markets Pvt Ltd
- IIFL Securities Ltd
- J.P. Morgan India Private Limited
- Nomura Financial Advisory And Securities (India) Pvt Ltd
- SBI Capital Markets Limited
- Registered office
- 4th Floor, The International, 16 Maharshi Karve Road, New Marine Lines, Mumbai, Maharashtra, 400020
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Disclaimer: Data on OpenIPO is for information only and is not investment advice. OpenIPO is not a SEBI-registered entity. GMP figures are unofficial estimates and may change. Verify all details against the company RHP and the official registrar before investing.