Clean Max Enviro Energy Solutions IPO
Clean Max Enviro Energy Solutions IPO
Overview
Clean Max Enviro Energy Solutions IPO is a book build issue of ₹3,100.00 crores. The issue is a combination of fresh issue of 1.14 crore shares aggregating to ₹1,200.00 crores and offer for sale of 1.80 crore shares aggregating to ₹1,900.00 crores. Clean Max Enviro Energy Solutions IPO opens for subscription on Feb 23, 2026 and closes on Feb 25, 2026. The allotment for the Clean Max Enviro Energy Solutions IPO is expected to be finalized on Feb 26, 2026. Clean Max Enviro Energy Solutions IPO will list on BSE, NSE with a tentative listing date fixed as Mar 2, 2026. Clean Max Enviro Energy Solutions IPO price band is set at ₹1,000 to ₹1,053 per share. The lot size for an application is 14. The minimum amount of investment required by an retail is ₹14,742 (14 shares) (based on upper price). The lot size investment for sNII is 14 lots (196 shares), amounting to ₹2,06,388, and for bNII, it is 68 lots (952 shares), amounting to ₹10,02,456. Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Total Shares
2,94,39,695
Issue Size
₹3,100 Cr
Price Band
₹1000 – ₹1053
Lot Size
14 shares
Min. Investment
₹14,742
Max. Investment
₹1,91,646
Open Date
23 Feb, 2026
Close Date
25 Feb, 2026
Allotment
26 Feb, 2026
Listing
02 Mar, 2026
Max. Investment
₹1,91,646
Announced
23 Feb, 2026
Opening Date
23 Feb, 2026
Closing Date
25 Feb, 2026
Basis of Allotment
26 Feb, 2026
Initiation of Refunds
26 Feb, 2026
Credit of Shares
27 Feb, 2026
Listing Date
02 Mar, 2026
Live GMP
Est. Listing: ₹1041
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About Clean Max Enviro Energy Solutions IPO
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 cu
Clean Max Enviro Energy Solutions IPO Share Price
Issue Breakdown
Shareholding
Dilution: 10.8% increase in shares
Clean Max Enviro Energy Solutions IPO Financial Health
Clean Max Enviro Energy Solutions IPO Lot Size
Investors can bid for a minimum of 14 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | ₹14,742 |
| Retail (Max) | 13 | 182 | ₹1,91,646 |
| S-HNI (Min) | 14 | 196 | ₹2,06,388 |
| S-HNI (Max) | 67 | 938 | ₹9,87,714 |
| B-HNI (Min) | 68 | 952 | ₹10,02,456 |
(All values in CR)
Clean Max Enviro Energy Solutions IPO Valuations
| Metric | Value |
|---|---|
| ROE | 0.43 |
| Debt/Equity | 2.53 |
| RoNW | 0.43 |
| Price to Book Value | 4.11 |
(All values in CR)
Clean Max Enviro Energy Solutions IPO Strength & Risk
Clean Max Enviro Energy Solutions IPO — Strengths:
Leading presence in commercial and industrial renewable energy solutions in India
Serves a diversified customer base across sectors like technology, data centres and manufacturing
Offers complete renewable energy solutions including project development and operations
Improving financial performance with revenue growth and movement toward profitability
Positioned to benefit from increasing corporate focus on sustainability and clean energy goals
Clean Max Enviro Energy Solutions IPO — Risks:
Strong reliance on government policies, incentives and regulatory support for renewables
Capital-intensive business with substantial project funding needs and debt exposure
Execution risks related to large project development, land and infrastructure challenges
Competitive pressures from established energy and independent power producers
Business outcomes may be affected by regional policy shifts or regulatory changes
Clean Max Enviro Energy Solutions IPO Subscriptions Status
Clean Max Enviro Energy Solutions IPO subscribed 0.99 times. The public issue subscribed 0.07 times in the retail category, 2.99 times in QIB (Ex Anchor), and 0.57 times in the NII category by February 25, 2026 6:34:43 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 87,46,437 | 87,46,437 | 921 |
| QIB (Ex Anchor) | 2.99 | 58,16,014 | 1,73,74,756 | 1 |
| NII | 0.57 | 43,68,735 | 24,76,152 | 260.739 |
| bNII (> ₹10L) | 0.82 | 29,12,490 | 23,76,304 | 250.225 |
| sNII (< ₹10L) | 0.07 | 14,56,245 | 99,848 | 10.514 |
| Retail | 0.07 | 1,01,93,715 | 6,92,720 | 72.943 |
| Employees | 0.11 | 3,14,795 | 34,804 | 3.665 |
| Total | 0.99 | 2,06,93,259 | 2,05,78,432 | 2 |
Clean Max Enviro Energy Solutions IPO GMP
The GMP for Clean Max Enviro Energy Solutions IPO shows the discounted price. The cap price for Clean Max Enviro Energy Solutions IPO is 1053.00.The estimated listing price for Clean Max Enviro Energy Solutions IPO at the current GMP is ₹1041. The lowest GMP is ₹-12.00, while the highest GMP is ₹14.00.
Last updated 25 Feb, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 25 Feb, 2026 | 1053 | ₹-12▼ | - | ₹1041 (-1.14%) | 168 | 25 Feb, 2026 |
| 24 Feb, 2026 | 1053 | ₹-3▼ | - | ₹1050 (-0.28%) | 42 | 24 Feb, 2026 |
| 23 Feb, 2026 | 1053 | ₹1▼ | - | ₹1054 (0.09%) | 14 | 23 Feb, 2026 |
| 22 Feb, 2026 | 1053 | ₹4 | - | ₹1057 (0.38%) | 56 | 22 Feb, 2026 |
| 21 Feb, 2026 | 1053 | ₹4▲ | - | ₹1057 (0.38%) | 56 | 21 Feb, 2026 |
| 20 Feb, 2026 | 1053 | ₹3 | ₹1056 (0.28%) | 42 | 20 Feb, 2026 | |
| 19 Feb, 2026 | 1053 | ₹3▼ | - | ₹1056 (0.28%) | 42 | 19 Feb, 2026 |
| 18 Feb, 2026 | 1053 | ₹9▼ | 100/1400 | ₹1062 (0.85%) | 126 | 18 Feb, 2026 |
| 17 Feb, 2026 | 1053 | ₹14▲ | 100/1400 | ₹1067 (1.33%) | 196 | 17 Feb, 2026 |
| 16 Feb, 2026 | 0 | ₹0 | - | ₹ (0.00%) | - | 16 Feb, 2026 |
| 15 Feb, 2026 | 0 | ₹0 | - | ₹ (0.00%) | - | 15 Feb, 2026 |
| 14 Feb, 2026 | 0 | ₹0 | - | ₹ (0.00%) | - | 14 Feb, 2026 |
| 13 Feb, 2026 | 0 | ₹0 | - | ₹ (0.00%) | - | 13 Feb, 2026 |
| 12 Feb, 2026 | 0 | ₹0 | - | ₹ (0.00%) | - | 12 Feb, 2026 |
| 11 Feb, 2026 | 0 | ₹0 | - | - | - | 11 Feb, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Clean Max Enviro Energy Solutions IPO
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Go to IPO Section
Find Clean Max Enviro Energy Solutions IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
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Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.