Mumbai, February 23, 2026: Clean Max Enviro Energy Solutions Limited, which will list under the symbol CLEANMAX, has opened its ₹3,100 crore initial public offering for subscription today, February 23. The issue closes on February 25, 2026, with listing scheduled for March 2, 2026.
Ahead of the public subscription, the company mobilised ₹920.99 crore from anchor investors by allocating 87,46,437 equity shares at ₹1,053 per share, the upper end of the price band, as detailed in its exchange intimation dated February 20, 2026.
The IPO is priced in the band of ₹1,000 to ₹1,053 per share with a face value of ₹1 each.
IPO Structure and Key Details
| Particulars | Details |
|---|---|
| Issue Period | February 23 to February 25, 2026 |
| Price Band | ₹1,000 to ₹1,053 per share |
| Issue Size | ₹3,100 crore |
| Issue Size (Shares) | 2,18,23,329 equity shares |
| Market Lot | 14 shares |
| Minimum Bid | 14 shares |
| Listing Date | March 2, 2026 |
| UPI Mandate Deadline | February 25, 2026, 5:00 PM |
Issue Break-up
| Component | Amount (₹ crore) |
|---|---|
| Fresh Issue | 1,200 |
| Offer for Sale | 1,900 |
| Total Issue Size | 3,100 |
Anchor Book Highlights
The company allocated 87,46,437 equity shares to 41 anchor investors at ₹1,053 per share, aggregating ₹920.99 crore.Anchor Allocation Summary
| Particulars | Details |
|---|---|
| Total Anchor Shares | 87,46,437 |
| Allocation Price | ₹1,053 per share |
| Total Anchor Investment | ₹920.99 crore |
Mutual Fund Participation
Out of the total anchor allocation:- 18,99,380 shares or 21.7% were allocated to 6 domestic mutual funds through 14 schemes.
- Total mutual fund anchor investment stood at approximately ₹200.00 crore.
Life Insurance Companies
Four life insurers were allocated 14,86,268 shares, accounting for 17.0% of the anchor book, with total investment of ₹156.50 crore.Key life insurers included:
- SBI Life Insurance Co. Ltd
- IndiaFirst Life Insurance Co. Ltd
- Canara HSBC Life Insurance Co. Ltd
- Bharti AXA Life Insurance Company Ltd
Category Details and Investment Limits
| Category | Cut-off Investment Limit |
|---|---|
| Retail (IND) | ₹2,00,000 |
| Employees (EMP) | ₹5,00,000 |
- QIB: 2,14,89,986 shares
- NII: 1,53,49,992 shares
Utilisation of Proceeds
The company intends to deploy proceeds from the fresh issue as follows:| Purpose | Amount (₹ crore) | % of Fresh Issue |
|---|---|---|
| Prepayment / Repayment of Borrowings | 1,122.67 | 93.56% |
| General Corporate Purposes | 77.33 | 6.44% |
Business Overview
Incorporated in 2010 and headquartered in Mumbai, Clean Max Enviro Energy Solutions Limited is a commercial and industrial renewable energy company operating across solar, wind and hybrid power solutions.The company operates across two core segments:
- Renewable Energy Power Sales – Supplying clean energy under long-term power purchase agreements.
- Renewable Energy Services – Providing EPC, operations and maintenance, and carbon-related services.
Listing and Outlook
The IPO has drawn strong institutional participation through its anchor book at the upper price band, reflecting early demand from domestic and global investors. The public issue now opens for qualified institutional buyers, non-institutional investors, retail investors, and employees.Shares are proposed to be listed on both BSE and NSE on March 2, 2026.
About the Company
Clean Max Enviro Energy Solutions Limited is a Mumbai-headquartered renewable energy solutions provider focused on commercial and industrial customers. The company offers integrated renewable power solutions across development, ownership and long-term supply contracts. Post listing, the equity shares will be listed on the BSE and NSE under the symbol CLEANMAX.Source:
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