Clean Max Enviro Energy Solutions IPO Subscribed 0.99 Times on Day 3

Clean Max Enviro Energy Solutions Limited's initial public offering (IPO) closed its three-day subscription window, reaching an overall subscription of 0.99 times by 4:54 PM on Day 3 (February 25, 2026). The ₹3,100 crore book-build issue, priced at ₹1,000–₹1,053 per share, received bids for 2,05,76,360 shares against 2,06,93,259 shares on offer, with total applications reaching 37,105.

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Subscription Status of Clean Max Enviro Energy Solutions IPO:

Here are the subscription details for Clean Max Enviro Energy Solutions IPO as of Day 3 (February 25, 2026, 5:19:35 PM)

Key Highlights – Day 3

• Overall subscription reached 0.99 times on Day 3 (February 25, 2026), showing substantial improvement from Day 2's 0.47 times, narrowly missing full subscription on the final day.
• Qualified institutional buyers (ex-anchor) led subscription with strong performance at 2.99 times, surging from Day 2's 1.27 times, indicating robust institutional appetite for India's largest C&I renewable energy provider.
• Non-institutional investors recorded 0.57 times, improving from Day 2's 0.44 times, with bNII showing stronger interest at 0.82 times against sNII's 0.07 times.
• Retail investors showed subdued participation at 0.07 times, marginally higher than Day 2's 0.04 times.
• Anchor investors fully subscribed their allocation of ₹921.00 crores on February 20, 2026.

Clean Max Enviro Energy Solutions IPO – Day 2 Subscription at 0.47 Times

Key Highlights – Day 2

• Overall subscription reached 0.47 times on Day 2 (February 24, 2026), showing modest improvement from Day 1's 0.36 times.
• Qualified institutional buyers (ex-anchor) led subscription at 1.27 times, building from Day 1's 1.09 times, indicating sustained institutional interest.
• Non-institutional investors recorded 0.44 times, improving from Day 1's 0.21 times, with bNII at 0.63 times and sNII at 0.04 times.
   

Clean Max Enviro Energy Solutions IPO – Day 1 Subscription at 0.36 Times

Key Highlights - Day 1:

• Overall subscription reached 0.36 times on Day 1 (February 23, 2026), reflecting cautious initial investor interest in this large-cap renewable energy IPO.
• Qualified institutional buyers (ex-anchor) led early momentum at 1.09 times, indicating strong institutional confidence on the opening day.
• Non-institutional investors recorded 0.21 times, with bNII showing more interest at 0.31 times against sNII's negligible 0.01 times.

About Clean Max Enviro Energy Solutions Limited

Incorporated and recognised as India's largest commercial and industrial renewable energy provider as of March 31, 2025 (per the CRISIL Report), Clean Max Enviro Energy Solutions Limited had 2.54 GW of operational, owned, and managed capacity and an additional 2.53 GW of contracted capacity under execution as of July 31, 2025. The company's key offerings span renewable power supply, energy services, and carbon credit solutions, catering to technology customers and conventional C&I customers. Its expertise covers energy contracting, engineering, procurement and construction (EPC), and operation and maintenance (O&M) of solar, wind, and hybrid renewable energy plants. The company sells renewable energy through long-term Power Purchase Agreements and Energy Attribute Purchase Agreements, and also provides turnkey development and carbon services.