Clean Max Enviro Energy IPO Details
The key details of Clean Max Enviro Energy Solutions’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹3,100 Crores |
| Price Range | ₹1000 - ₹1053 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | ₹100 |
| Listing at | NSE and BSE |
| Minimum Quantity | 14 |
| Investment (cut-off price) | ₹14,742 |
| Pre IPO Promotor Holding | 74.89% |
| Post IPO Promotor Holding | 49.08% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Clean Max Enviro Energy IPO Timelines
The IPO process for Clean Max Enviro Energy Solutions includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
23/02/2026
Start Date25/02/2026
End Date26/02/2026
Refund Initiation27/02/2026
Credit of Shares to Demat Ac02/03/2026
Listing DateClean Max Enviro Energy IPO Lot Size
The Clean Max Enviro Energy IPO has a fixed lot size of 14 shares, at an upper price band of ₹1,053 per share. For retail investors, the minimum application is 14 shares (1 lot) amounting to ₹14,742, while the maximum is 182 shares (13 lots) worth ₹1,91,646. For Small HNI (S-HNI) investors, the minimum application is 196 shares (14 lots) worth ₹2,06,388, while the maximum is 938 shares (67 lots) amounting to ₹9,87,714. Big HNI (B-HNI) investors need to apply for at least 952 shares (68 lots), totaling ₹10,02,456.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 14 | ₹14,742 |
| Retail Maximum | 13 | 182 | ₹1,91,646 |
| S-HNI Minimum | 14 | 196 | ₹2,06,388 |
| S-HNI Maximum | 67 | 938 | ₹9,87,714 |
| B-HNI Minimum | 68 | 952 | ₹10,02,456 |
Clean Max Enviro Energy IPO Subscription Status
The subscription status for Clean Max Enviro Energy Solutions IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 2.99x | 0.57x | 0.07x | 0.11x | 0.99x |
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
Clean Max Enviro Energy IPO Company Financials
Clean Max Enviro Energy Solutions reports robust performance in FY2025 with Total Income of ₹1,610.34 crores, managing expenses at ₹595.27 crores, and achieving a strong PAT (Profit After Tax) of ₹19.43 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹960.98 | ₹555.06 | -₹59.47 |
| FY 2024 | ₹1,425.31 | ₹683.74 | -₹37.64 |
| FY 2025 | ₹1,610.34 | ₹595.27 | ₹19.43 |
| FY 2026 | ₹969.35 | ₹331.49 | ₹19.00 |
About Company
Clean Max Enviro is India’s largest commercial and industrial (C&I) renewable energy provider as of March 31, 2025, according to the CRISIL Report. As of July 31, 2025, the company has a total of 2.54 GW of operational, owned, and managed capacity, along with 2.53 GW of contracted capacity under execution. It supplies renewable power, provides energy services, and offers carbon credit solutions to a diverse customer base that includes both technology-driven and conventional industrial clients.
Its core expertise spans energy contracting, engineering, procurement, and construction (EPC), as well as operation and maintenance (O&M) of solar, wind, and hybrid renewable energy plants. The company operates through two main business segments: the Renewable Energy Power Sales Segment, which sells renewable power through long-term Power Purchase Agreements (PPAs) and Energy Attribute Purchase Agreements (EAPAs); and the Renewable Energy Services Segment, which delivers turnkey development, EPC, power evacuation, lifetime O&M, and carbon services.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2010 | Energy | Kuldeep Jain |
Know Before Investing
Clean Max Enviro Energy IPO Strengths
- Clean Max Enviro Energy operates 2.54 GW of owned and managed renewable capacity with 2.53 GW of contracted projects under execution as of July 2025.
- Includes solar, wind, and hybrid energy solutions, catering mainly to commercial and industrial customers across sectors like data centers, tech, manufacturing, and pharma.
- Over 1,127 signed power purchase agreements (PPAs) with a weighted average tenure of 22.73 years provide revenue visibility and stability.
- Serves more than 531 customers, including major global corporations, enhancing business credibility.
- Supported by Brookfield and Augment India Holdings, providing access to capital and strategic guidance.
Clean Max Enviro Energy IPO Risks
- Revenue and project viability depend on government policies, permits, and incentive structures which may change.
- Delays or cost overruns in large-scale renewable energy projects may impact timelines and financials.
- Though diverse, a handful of large customers contribute disproportionately, creating vulnerability.
- Faces intense competition from established players like Adani Green, ReNew, Tata Power Renewables, and others.
- Business is sensitive to broader economic conditions, energy demand cycles, and capital markets.
- Fluctuations in tariff rates or renewable energy purchase mandates may impact margins.
Swot Analysis for Clean Max Enviro Energy IPO
Strengths
Diverse Renewable Portfolio, Strong Client Relationships, Global Expansion
Weaknesses
Working Capital Intensive, Asset Heavy Model, Regional Concentration
Opportunities
Renewables Demand Growth, Corporate Energy Partnerships, International Market Expansion
Threats
Regulatory Uncertainty, Capital Market Sensitivity, Supply Chain Risks
Company Details
Clean Max Enviro Energy Solutions Ltd.
4th Floor, The International 16 Maharshi Karve Road, New Marine Lines Cross Road No.1, Churchgate Mumbai, Maharashtra, 400020
Phone: +91 22 6252 000
Email: Secretarial@cleanmax.com
Website: http://www.cleanmax.com/
IPO Registar Details
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: cleanmax.ipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
FAQs
The key objectives of Clean Max Enviro Energy IPO are:
- Repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of Company and/or certain of our Subsidiaries
- General corporate purposes
Axial Capital Pvt. Ltd. , JP Morgan India Pvt. Ltd. , BNP Paribas , HSBC Securities & Capital Markets (India) Pvt. Ltd. , IIFL Capital Services Ltd. , Nomura Financial Advisory & Securities (India) Pvt. Ltd. , BOB Capital Markets Ltd. , SBI Capital Markets Ltd. are the book-running lead managers for the Clean Max Enviro Energy IPO.
Clean Max Enviro Energy Solutions holds strong growth potential driven by increasing corporate demand for renewable power and supportive government policies. With 2.54 GW operational and 2.53 GW contracted capacity, its leadership in the C&I segment and focus on hybrid renewable projects position it well for sustainable expansion.
The issue price for the Clean Max Enviro Energy IPO is set between ₹1000 to ₹1053 per share.
To invest in one lot of Clean Max Enviro Energy IPO, you need ₹14,000 at the lower price band (₹1000 per share) or ₹14,742 at the upper price band (₹1053 per share) for a lot size of 14 shares.
Clean Max Enviro Energy IPO shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on March 2, 2026.
Refund/unblocking of funds for Clean Max Enviro Energy IPO will begin on February 27, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Clean Max Enviro Energy IPO shares on listing day (March 2, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.