CleanMax, Sakhiya Skin Clinic Seek SEBI Nod for IPOs Exceeding ₹5,200 Cr

India’s IPO market is set for fresh activity with CleanMax Enviro Energy Solutions and Sakhiya Skin Clinic filing draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (SEBI). Both companies plan to raise funds through equity offerings, though they belong to very different sectors—renewable energy and healthcare.

CleanMax Enviro’s ₹5,200 Crore IPO Plan

CleanMax Enviro Energy Solutions Ltd, a renewable energy solutions provider, has submitted its DRHP to SEBI proposing an initial public offering (IPO) of ₹5,200 crore. The issue will be entirely an offer-for-sale (OFS) of up to 10.94 crore equity shares by existing shareholders, meaning the company itself will not receive fresh capital from the issue.

The selling shareholders include Augusta Investments I Pte Ltd, Yellow River Partners Ltd, and International Finance Corporation (IFC). Their decision to divest comes as CleanMax continues to expand its presence in the renewable energy sector, offering clean energy solutions to commercial and industrial customers across India and beyond.

The company has appointed Kotak Mahindra Capital, IIFL Securities, Jefferies India, and Nomura Financial Advisory as the book-running lead managers for the proposed offering. The equity shares are planned to be listed on both the BSE and NSE, subject to regulatory approvals.

Sakhiya Skin Clinic’s SME IPO Filing

Meanwhile, Sakhiya Skin Clinic Ltd, a Surat-based dermatology and cosmetic treatment chain, has also filed its DRHP with SEBI for a small and medium enterprise (SME) IPO. The company is looking to list on the BSE SME platform.

As per the filing, the IPO will consist of a fresh issue of up to 60 lakh equity shares with a face value of ₹10 each. The funds raised are intended to support expansion plans and strengthen the company’s financial position as it looks to tap into India’s fast-growing skincare and cosmetic treatment market.

Sakhiya Skin Clinic operates multiple centres across Gujarat and other states, offering services such as dermatology, cosmetic surgery, and advanced skincare treatments. Its IPO is seen as an effort to scale operations further and attract a wider investor base through public listing.

Conclusion

The dual IPO filings highlight the diversity of India’s capital markets. While CleanMax Enviro’s large ₹5,200 crore OFS caters to institutional investors in the renewable energy sector, Sakhiya Skin Clinic’s SME IPO underscores the rising appetite for healthcare and cosmetic service providers among retail and small-scale investors. Both offerings reflect sectoral growth opportunities as India’s IPO market remains vibrant.