Clean Max Enviro Energy Solutions IPO
IPO Listing Details
- Listing Date
02 Mar 2026
- Listing Price
₹952.20
- Listing Change
-9.57%
- Last Traded Price
₹829.20
Clean Max Enviro Energy Solutions IPO Details
-
Open Date
23 Feb 2026
-
Close Date
25 Feb 2026
-
Listing Date
02 Mar 2026
- IPO Price Range
₹ 1000 to ₹1053
- IPO Size
₹ 3,100.00 Cr
- Listing Exchange
BSE NSE
Clean Max Enviro Energy Solutions IPO Timeline
Clean Max Enviro Energy Solutions IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 23-Feb-2026 | 1.09 | 0.21 | 0.02 | 0.36 |
| 24-Feb-2026 | 1.27 | 0.44 | 0.04 | 0.47 |
| 25-Feb-2026 | 2.99 | 0.57 | 0.07 | 0.99 |
Last Updated: 25 February 2026 5:55 PM by 5paisa
Clean Max Enviro is India’s largest commercial and industrial (C&I) renewable energy provider as of 31 March 2025, according to CRISIL. As of 31 July 2025, it operates, owns and manages 2.54 GW, with 2.53 GW under execution. The company supplies renewable power, energy services and carbon credit solutions, serving technology and conventional C&I customers, with expertise across energy contracting, EPC, O&M, PPAs and turnkey renewable project development.
Established in: 2010
Managing Director: Kuldeep Jain
Peers:
| Metric |
Clean Max Enviro Energy Solutions and Women Health Limited |
ACME Solar Holdings Ltd |
NTPC Green Energy Ltd |
Adani Green Energy Limited |
|---|---|---|---|---|
| Face Value | 1 | 2 | 10 | 10 |
|
Closing price on February 12, 2026 (₹) |
NA | 224.05 | 89.07 | 997.20 |
| Revenue from operations | 14,95.70 | 1405.13 | 2209.64 | 11212.00 |
| EPS (Basic) (₹) | 2.88 | 4.55 | 0.67 | 8.37 |
| EPS (Diluted) (₹) | 2.79 | 4.53 | 0.67 | 8.37 |
| NAV | 250.93 | 74.54 | 21.88 | 58.63 |
| P/E | NA | 49.46 | 132.94 | 119.14 |
| EV/EBITDA | NA | 15.38 | 41.91 | 23.75 |
| NAV | 1.09 | 5.59 | 2.58 | 13.48 |
Clean Max Enviro Energy Solutions Objectives
1. ₹1,122.67 crore will repay outstanding company borrowings.
2. Funds will support ongoing general corporate purposes.
Clean Max Enviro Energy Solutions IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹3,100.00 Cr |
| Offer For Sale | ₹1,900.00 Cr |
| Fresh Issue | ₹1,200.00 Cr |
Clean Max Enviro Energy Solutions IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 14 | 14,000 |
| Retail (Max) | 13 | 182 | 1,91,646 |
| S-HNI (Min) | 14 | 196 | 1,96,000 |
| S - HNI (Max) | 67 | 938 | 9,87,714 |
| B - HNI (Min) | 68 | 952 | 9,52,000 |
Clean Max Enviro Energy Solutions IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.27 | 58,16,014 | 74,11,880 | 780.471 |
| Non-Institutional Buyers | 0.48 | 43,68,735 | 20,95,436 | 220.649 |
| BNII | 0.70 | 29,12,490 | 20,28,278 | 213.578 |
| SNII | 0.05 | 14,56,245 | 67,158 | 7.072 |
| Individual Investors (IND category bidding for 2 Lots) | 0.05 | 1,01,93,715 | 4,96,034 | 52.232 |
| Total** | 0.48 | 2,06,93,259 | 1,00,22,950 | 1,055.417 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 929.58 | 1389.84 | 1495.70 |
| EBITDA | 405.92 | 741.57 | 1015.07 |
| PAT | -59.47 | -37.64 | 19.43 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 7000.14 | 9076.55 | 13279.25 |
| Share Capital | 3.63 | 4.40 | 5.01 |
| Total Liabilities | 5531.38 | 6842.57 | 10074.48 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | 927.65 | 86.28 | 1404.20 |
| Net Cash Generated From / (used in) Investing Activities | -3010.77 | -1938.60 | -3617.05 |
| Net Cash Generated From / (used in) Financing Activities | 2144.33 | 1788.78 | 2481.24 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 61.21 | -63.55 | 268.39 |
Strengths
1. India’s largest C&I renewable energy provider
2. Significant operational and contracted capacity pipeline
3. Diversified offerings across power and services
4. Strong expertise in EPC and O&M
Weaknesses
1. High capital expenditure and funding requirements
2. Dependence on long-term customer agreements
3. Exposure to execution and project delays
4. Concentration in commercial and industrial segment
Opportunities
1. Growing corporate demand for green energy
2. Expansion of carbon credit trading markets
3. Government incentives supporting renewable capacity additions
4. Rising sustainability commitments among technology firms
Threats
1. Regulatory changes impacting renewable energy policies
2. Intense competition from established power producers
3. Fluctuations in equipment and financing costs
4. Counterparty risks from long-term contract customers
1. Market leader in C&I renewable energy
2. Strong operational and contracted capacity pipeline
3. Diversified revenue across power and services
4. Positioned to benefit from energy transition
Clean Max Enviro operates within India’s rapidly expanding renewable energy sector, driven by rising corporate sustainability commitments and supportive government policies. Increasing demand from commercial and industrial customers for reliable green power is strengthening long-term growth prospects. With a sizeable operational base and strong execution capabilities across EPC and O&M, the company is well positioned to capitalise on capacity additions, carbon markets and evolving clean energy solutions.
- Companies
- Type
- Opening On
-
Srinibas Pradhan Constructions
- SME
- 06th Mar
- Pre-Book
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FAQs
Clean Max Enviro Energy Solutions IPO opens from February 23, 2026, to February 25, 2026.
The size of the Clean Max Enviro Energy Solutions IPO is ₹3,100.00 Cr.
The price band of Clean Max Enviro Energy Solutions IPO is fixed at ₹1000 to ₹1053.
To apply for Clean Max Enviro Energy Solutions IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Clean Max Enviro Energy Solutions. IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Clean Max Enviro Energy Solutions IPO is 14 shares and the investment required is ₹14,000.
The share allotment date of Clean Max Enviro Energy Solutions IPO is February 26, 2026
The Clean Max Enviro Energy Solutions IPO will likely be listed on March 2, 2026.
Axis Capital Ltd is the book running lead managers for Clean Max Enviro Energy Solutions IPO.
Clean Max Enviro Energy Solutions IPO plans to utilise the raised capital from the IPO for:
1. ₹1,122.67 crore will repay outstanding company borrowings.
2. Funds will support ongoing general corporate purposes.