Clean Max Enviro Energy Solutions IPO Details, Financials, Valuation & Peers
Explore Clean Max Enviro Energy Solutions IPO details, including IPO dates, financial statements, valuation, peer comparison and more.
Overview
Clean Max Enviro is a leading commercial and industrial (C&I) renewable energy provider in India. As of March 31, 2025, it was recognized as India's largest C&I renewable energy provider according to the CRISIL Report.
Core Business: The company's primary focus is on supplying renewable power and delivering comprehensive energy services.
Main Products/Services: Clean Max Enviro offers renewable power sales through long-term Power Purchase Agreements (PPAs) and Energy Attribute Purchase Agreements (EAPAs). They also provide end-to-end turnkey solutions encompassing land acquisition, evacuation infrastructure, engineering, procurement, and construction (EPC) services, power evacuation, and lifetime operation and maintenance (O&M) for renewable energy plants. Additionally, carbon credit solutions are part of their offerings.
Industry Focus: The company serves the commercial and industrial (C&I) sector, including clients from the technology sector and traditional C&I customers. Their expertise extends to solar, wind, and hybrid renewable energy projects.
Key Highlights:
- Largest C&I renewable energy provider in India as of March 31, 2025 (CRISIL Report).
- 2.54 GW of operational, owned, and managed capacity as of July 31, 2025.
- 2.53 GW of contracted capacity under execution as of July 31, 2025.
- Comprehensive service offerings include EPC and O&M for renewable energy plants.
- Serves a diverse customer base across technology and traditional C&I sectors.
Objects of the Issue
- Repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of the Company and/or certain of the Subsidiaries
- General corporate purposes
- Total
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 23 Feb - 25 Feb 2026 |
| IPO Price Band | ₹1,000 - ₹1,053 per share |
| Fresh Issue | 1200.00 Cr |
| Offer For Sale | 1900.00 Cr |
| Total IPO Size | 3100.00 Cr |
| Face Value | 1 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 23 Feb 2026 |
| IPO Closing Date | 25 Feb 2026 |
| Basis Of Allotment | 26 Feb 2026 |
| Refunds | 26 Feb 2026 |
| Demat Transfer | 27 Feb 2026 |
| IPO Listing Date | 02 Mar 2026 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 | 30 Sep 2025 |
|---|---|---|---|---|
| Assets | 7,000.14 | 9,076.55 | 13,279.25 | 16,945.65 |
| Total Income | 960.98 | 1,425.31 | 1,610.34 | 969.35 |
| Profit After Tax | -59.47 | -37.64 | 19.43 | 19.00 |
| EBITDA | 405.92 | 741.57 | 1,015.07 | 637.85 |
| NET Worth | 1,209.93 | 1,817.96 | 2,545.44 | 2,598.34 |
| Total Borrowing | 3,843.42 | 5,514.56 | 7,973.70 | 10,121.46 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|
| Clean Max Enviro Energy Solutions | 377.42 | 2.79 | 1.09% | 250.93 |
| ReNew Energy Global PLC | 44.84 | 10.81 | 3.39% | 310.4 |
| Adani Green Energy | 119.14 | 8.37 | 13.48% | 58.63 |
| NTPC Green Energy | 132.94 | 0.67 | 2.58% | 21.88 |
| ACME Solar Holdings | 49.46 | 4.53 | 5.59% | 74.54 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
IPO Reservation
| Investor Type | Shares Offered |
|---|---|
| Qualified Institutional Buyer (QIB) | Not more than 50% of the Net Offer |
| Non-Institutional Investor (NII/HNI) | Not less than 15% of the Net Offer |
| Retail Individual Investor (RII) | Not less than 35% of the Net Offer |
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 2.99 |
| Non-Institutional Investor (NII/HNI) | 0.57 |
| Retail Individual Investor (RII) | 0.07 |
| Total | 0.99 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited)
Phone: + 91 810 811 4949
Email: ipo.helpdesk@linkintime.co.in
Website: https://linkintime.co.in/
Lead Managers
- JP Morgan India Pvt.Ltd.
- SBI Capital Markets Ltd.
- BOB Capital Markets Ltd.
- HSBC Securities & Capital Markets (India) Pvt.Ltd.
- IIFL Capital Services Ltd.
- Nomura Financial Advisory & Securities (India) Pvt.Ltd.
- Axis Capital Ltd.
- BNP Paribas
Company Address
Clean Max Enviro Energy Solutions Ltd.
4th Floor,
The International 16 Maharshi Karve Road,
New Marine Lines Cross Road No.1, Churchgate
Mumbai, –400020
Website:https://www.cleanmax.com/
Phone:+91 22 6252 000
Email:Secretarial@cleanmax.com
FAQs
- What is the issue size of the Clean Max Enviro Energy Solutions IPO?The Clean Max Enviro Energy Solutions IPO has an issue size of 3100.00 Cr. This includes a fresh issue of 1200.00 Cr and an offer for sale (OFS) of 1900.00 Cr.
- What is the price band of the Clean Max Enviro Energy Solutions IPO?The price band for the Clean Max Enviro Energy Solutions IPO is ₹1,000 - ₹1,053 per share.
- What are the bidding dates for the Clean Max Enviro Energy Solutions IPO?The Clean Max Enviro Energy Solutions IPO will open for bidding on 23 Feb 2026 and close on 25 Feb 2026.
- What is the allotment date for the Clean Max Enviro Energy Solutions IPO?The allotment date for the Clean Max Enviro Energy Solutions IPO is 26 Feb 2026.
- What is the minimum lot size and investment required for the Clean Max Enviro Energy Solutions IPO?The minimum lot size for the Clean Max Enviro Energy Solutions IPO is 14 shares and the minimum investment required is ₹14,742.
- What is the listing date for the Clean Max Enviro Energy Solutions IPO?The listing date for the Clean Max Enviro Energy Solutions IPO is 02 Mar 2026.
- What is the Clean Max Enviro Energy Solutions IPO grey market premium?The grey market premium (GMP) for the Clean Max Enviro Energy Solutions IPO is currently at ₹0, with an expected listing gain of approximately -3.32%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.