Clean Max Enviro Energy Solutions IPO

Clean Max Enviro Energy Solutions IPO is priced at ₹1000–₹1053 per share with an issue size of ₹3100 crore. The IPO opens on Feb 23, 2026 and closes on Feb 25, 2026, with a lot size of 14 shares and a minimum investment of ₹14,742.

Skip to IPO key facts summary

Clean Max Enviro Energy Solutions Limited IPO

Mainboard Pre-Apply
₹14,742 (14 Shares)
Minimum Investment
Check Allotment
IPO Dates
Feb 23, 2026 – Feb 25, 2026
Price band
₹1000-1053 per equity share
Minimum Investment
₹14,742
Issue size
₹3100 Cr
Lot size
14
Allotment Date
Feb 26, 2026
Listing
Mar 2, 2026
Listing At
BSE, NSE

  1. Feb 23, 2026

    Open Date

    Completed

  2. Feb 25, 2026

    Close Date

    Completed

  3. Feb 26, 2026

    Allotment Date

    Completed

  4. Mar 2, 2026

    Listing Date

    Completed

Clean Max Enviro Energy Solutions IPO Expected Premium

₹ 4-5 (0%)

Clean Max Enviro Energy Solutions IPO expected premium (also known as grey market premium or GMP) indicates current market sentiment and potential listing expectations.

Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Clean Max Enviro Energy Solutions IPO Expected Premium

₹ 4-5 (0%)

Clean Max Enviro Energy Solutions IPO Essentials

Clean Max Enviro Energy Solutions IPO Details

Clean Max Enviro Energy Solutions IPO is priced at ₹1000-1053 per share with a total issue size of 3100 crore. The IPO has a lot size of 14 shares and will be listed on BSE and NSE.

Issue price
₹1000-1053 per equity share
Lot size
14 shares
Face value
₹1 Per Equity Share
Issue size
₹3100 Crores : 1200 Crores Fresh + 1900 Crores OFS
Total issue size
2,94,39,695 shares
(aggregating up to ₹3100 crore)
Fresh issue
1,13,96,011 shares
(aggregating up to ₹1200 crore)
Offer for sale (OFS)
1,80,43,684 shares
(aggregating up to ₹1900 crore)
Listing at
BSE, NSE
Listing date
Registrar
MUFG Intime India Pvt.Ltd.
Lead manager
Axis 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.

Market Lot Size

Investors can bid for a minimum of 14 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 14 ₹14,742
Retail(max) 13 182 ₹1,91,646
sHNI(min) 14 196 ₹2,06,388
sHNI(max) 67 938 ₹9,87,714
sHNI(min) 68 952 ₹10,02,456

Clean Max Enviro Energy Solutions IPO Documents

DRHP

RHP

Clean Max Enviro Energy Solutions IPO Analytics

Clean Max Enviro Energy Solutions Valuations

Returns

ROE
1.27%
RoNW
1.09%

Fundamentals

Debt / Equity
1.97
Price / Book
4.20
Market Cap
12,325.29 Cr.

Data sourced from DRHP / RHP • For educational purposes only

Clean Max Enviro Energy Solutions Financials( In Crs.)

30-Sep-25 31-Mar-25 31-Mar-24 31-Mar-23
Assets 16,945.65 13,279.25 9,076.55 7,000.14
Revenue 969.35 1,610.34 1,425.31 960.98
Profit After Tax 19.00 19.43 -37.64 -59.47
Net Worth 2,598.34 2,545.44 1,817.96 1,209.93
Total Borrowing 10,121.46 7,973.70 5,514.56 3,843.42

Clean Max Enviro Energy Solutions financials show revenue growth and profitability trends over recent years, indicating business stability.

Clean Max Enviro Energy Solutions Company & Offer Insights

About Clean Max Enviro Energy Solutions

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, we have 2.54 GW of operational, owned, and managed capacity and an additional 2.53 GW of contracted capacity under execution.

Its key offerings include supplying renewable power, providing energy services, and offering carbon credit solutions. We cater to a wide range of customers, including Technology customers and conventional C&I customers.

The company's expertise covers Energy contracting, Engineering, procurement, and construction (EPC), and Operation and maintenance (O&M) of renewable energy plants (solar, wind, and hybrid).

Business Offerings:
Power Sales Renewable Energy: Power Sales Use Provided by the way of Long-term Power Purchase Agreement (PPA) and Energy Attribute Purchase Agreement (EAPA).
Services of Renewable Energy: It offers the following services: turnkey project development, EPC services, evacuation infrastructure, lifetime O and M services and carbon services.

Clean Max Enviro Energy Solutions Promoter(s)

Kuldeep Jain, Pratap Jain, Nidhi Jain, BGTF One Holdings (DIFC) Ltd, Kempinc LLP are the company's promoters of Clean Max Enviro Energy Solutions.

Pre-Issue Holding
74.89%
Post-Issue Holding
49.08%

Clean Max Enviro Energy Solutions IPO Issue Objectives

•
Repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of our Company and/or certain of our Subsidiaries - ₹1,125.00 Crores
•
General corporate purposes

Clean Max Enviro Energy Solutions IPO - Peers Comparison

P/B Ratio P/E Ratio RoNW Revenue(in Cr.)
Clean Max Enviro N/A N/A 1.09% N/A
ACME Solar 3.03 49.4 5.59% N/A
NTPC Green 4.24 132.9 2.48% N/A
Adani Green 17.19 119.1 13.48% N/A
ReNew Energy Global 1.56 44.8 3.39% N/A

Clean Max Enviro Energy Solutions IPO - Strengths and Risks

Clean Max Enviro Energy Solutions IPO strengths and risks highlight key business factors, financial position, and market sentiment that may impact investor interest.

Strengths

Timely & Cost-Efficient Project Execution: The company’s in-house development, execution, and management strengths enable projects to be completed on time, within budget, and with maximum plant efficiency. In-house expertise in site evaluation, EPC, O&M, and ESG-centric project execution improves customer retention and ensures smooth project execution.
Solutions-Driven Sales Strategy: The business development organization looks after the entire customer life cycle in India, UAE, and Thailand, catering to 531 customers and 1,127 PPAs as of March 31, 2025. Smaller, customer-focused projects reduce risk, build customer relationships, and improve long-term visibility through cross-selling.
Diverse & Customized Product Portfolios: The company’s five portfolios—Onsite, Offsite STU, Offsite CTU, Capex Services, and Carbon Services—are designed to meet customers’ Net Zero objectives. This allows the company to offer customized clean energy solutions that help achieve carbon neutrality and sustainability targets.

Risks

Project Development Risks: Renewable energy projects are subject to various external risks, such as the availability of land, connectivity to the grid, resource quality, funding, delivery of equipment, and timely approvals. Delays or cost overruns in any of these may impact the project development schedules and, in turn, affect the financial performance.
Risk of Termination of PPAs/EAPAs: The company’s long-term PPAs and EAPAs can be terminated if the requirements of project construction, grid connectivity, or energy supply are not fulfilled. The failure to obtain new agreements on similar terms may adversely impact the company’s revenue visibility, operations, and future prospects.
Land Title and Acquisition Risks in India: Unclear land titles, land record discrepancies, and land acquisition difficulties in India may impede project development. Risks associated with land title disputes, record errors, unregistered encumbrances, or ownership disputes may slow down project development and pose risks to the company’s operations.

Contact Information

Contact Details

Clean Max Enviro Energy Solutions

+91 22 6252 000

Secretarial@cleanmax.com

http://www.cleanmax.com/

4th Floor, The International 16 Maharshi Karve Road, New Marine Lines Cross Road No.1, Churchgate Mumbai, Maharashtra, 400020

Registrar Contact Details

MUFG Intime India Private Limited (Link Intime)

+91-22-4918 6270

cleanmax.ipo@in.mpms.mufg.com

https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Frequently Asked Questions

Click any question to reveal the answer

Clean Max Enviro Energy Solutions IPO is a book-built IPO worth ₹3100 crore. The price band is ₹1000–₹1053 per share. The IPO opens on Feb 23, 2026 and closes on Feb 25, 2026. It will be listed on BSE and NSE. MUFG Intime India Pvt. Ltd. is the registrar.

The price band of Clean Max Enviro Energy Solutions IPO is ₹1000 to ₹1053 per share.

The lot size of Clean Max Enviro Energy Solutions IPO is 14 shares.

The minimum investment for Clean Max Enviro Energy Solutions IPO is approximately ₹14,742 based on the upper price band .

Clean Max Enviro Energy Solutions IPO opens on Feb 23, 2026 and closes on Feb 25, 2026.

The allotment date of Clean Max Enviro Energy Solutions IPO is Feb 26, 2026.

Clean Max Enviro Energy Solutions IPO is expected to be listed on Mar 2, 2026, on BSE and NSE .

The Grey Market Premium (GMP) for Clean Max Enviro Energy Solutions IPO is ₹4-5 as of Feb 20, 2026. Based on the upper price band of ₹1053, the estimated listing price is ₹1,057.

Clean Max Enviro Energy Solutions IPO valuation snapshot: P/E N/A, EPS ₹/-, P/B 4.20, RoNW 1.09%, and market cap 12,325.29 Cr.

To apply for Clean Max Enviro Energy Solutions IPO, open the IPO Ji app or website, select the IPO, choose your demat account, enter the quantity, and submit the application.

You can check the live subscription status of Clean Max Enviro Energy Solutions IPO on IPO Ji or stock exchange websites. It shows real-time demand across retail, NII, and QIB categories.

Pre-apply allows investors to submit their IPO application before the bidding period starts. The order is placed automatically when the IPO opens.

If you pre-apply for Clean Max Enviro Energy Solutions IPO, your order will be placed when the IPO bidding starts, and a UPI mandate request will be generated.

You can check Clean Max Enviro Energy Solutions IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Clean Max Enviro Energy Solutions IPO allotment status on IPO Ji for quick and easy access.