Clean Max Enviro Energy Solutions IPO: Complete Issue Details, Subscription Status, GMP Trend & Allotment Guide

The Clean Max Enviro Energy Solutions IPO is a book-building public issue aggregating to ₹3,100.00 crore, positioning the company among the significant renewable energy listings of 2026. The issue is structured as a mix of fresh issue and offer for sale (OFS), allowing the company to raise growth capital while also providing an exit opportunity to existing shareholders. With increasing institutional focus on renewable energy and decarbonization themes, this IPO has attracted early attention across investor categories.

The IPO opened for subscription on February 23, 2026, and will close on February 25, 2026. The allotment is expected to be finalized on February 26, 2026, and the shares are tentatively scheduled to list on BSE and NSE on March 2, 2026.

Clean Max Enviro Energy Solutions IPO Structure and Issue Size

The total issue size of ₹3,100.00 crore comprises a fresh issue of 1.14 crore shares aggregating to ₹1,200.00 crore and an offer for sale of 1.80 crore shares aggregating to ₹1,900.00 crore. While the fresh issue will strengthen the company’s capital base and support expansion initiatives, the OFS component allows existing investors to partially divest their holdings without impacting company cash reserves.

IPO Snapshot

The increase in post-issue shareholding reflects the impact of fresh capital infusion into the company.

Also Read : UPL Limited Slides After Restructuring Plan — Are Leverage and Dilution Concerns Mounting?

Investment Requirements and Lot Size Details

The IPO price band has been fixed between ₹1,000 and ₹1,053 per share. Investors must apply in a minimum lot size of 14 shares. At the upper price band, the minimum investment required for retail investors stands at ₹14,742.

For non-institutional investors, the investment requirement is significantly higher due to multiple lot conditions.

• Retail Minimum Investment: ₹14,742 (14 shares)

• sNII Investment: ₹2,06,388 (196 shares / 14 lots)

• bNII Investment: ₹10,02,456 (952 shares / 68 lots)

This structured bidding format ensures clear segmentation between retail and high-value applicants.

Clean Max Enviro Energy Solutions IPO Timetable (Tentative Schedule)

The IPO follows a structured post-subscription schedule ensuring quick processing and listing.

Investors who receive allotment can expect shares to be credited to their demat accounts before listing day.

About Clean Max Enviro Energy Solutions Ltd.

Clean Max Enviro is recognized as India’s largest commercial and industrial (C&I) renewable energy provider as of March 31, 2025, according to the CRISIL Report. The company has established a strong presence in delivering renewable power solutions tailored to corporate and industrial consumers seeking sustainable energy alternatives.

As of July 31, 2025, the company has:

• 2.54 GW of operational, owned, and managed capacity

• 2.53 GW of contracted capacity under execution

Its offerings span renewable power supply, energy services, and carbon credit solutions. The company serves both technology-driven clients and conventional C&I customers, offering comprehensive renewable integration solutions.

The company’s expertise includes energy contracting, Engineering, Procurement and Construction (EPC), and operation and maintenance (O&M) of renewable energy plants including solar, wind, and hybrid systems.

Business Offerings

Renewable Energy Power Sales Segment

Under this segment, the company sells renewable energy through long-term Power Purchase Agreements (PPAs) and Energy Attribute Purchase Agreements (EAPAs). These long-duration contracts ensure revenue stability and predictable cash flows, reducing exposure to short-term price volatility.

Renewable Energy Services Segment

This segment focuses on turnkey project development and lifecycle management. It includes land acquisition, evacuation infrastructure development, EPC execution, power evacuation systems, long-term O&M services, and carbon credit offerings. This integrated model enables the company to provide end-to-end renewable solutions to its clients.

Clean Max Enviro Energy Solutions IPO Subscription Status (Day 1 Update)

As of February 23, 2026 at 1:09:33 PM (Day 1), the IPO has been subscribed 0.11 times overall. Subscription has been moderate across categories, with stronger participation seen in the QIB segment compared to retail and NII segments.

Category-wise Subscription

The anchor portion has been fully subscribed, while retail and NII segments are witnessing gradual participation on the opening day.

Clean Max Enviro Energy Solutions IPO Shares Offered – Category-wise Allocation

The IPO is a public issue of 2.94 crore equity shares distributed across investor categories to ensure balanced participation.

Nearly half of the issue is reserved for qualified institutional buyers, reflecting institutional confidence focus.

Clean Max Enviro Energy Solutions IPO GMP

As of February 23, 2026 (12:37 PM), the latest GMP stands at ₹2. Based on the upper price band of ₹1,053, the estimated listing price is ₹1,055, indicating an expected gain of 0.19% per share.

• Estimated Profit per Lot (14 shares): ₹28

• Lowest GMP Recorded: ₹0

• Highest GMP Recorded: ₹14

The current GMP trend suggests cooling grey market enthusiasm compared to earlier sessions.

Day-wise GMP Trend

The premium has gradually softened from ₹14 to ₹2, indicating moderated speculative demand.

What is IPO Grey Market Premium (GMP)?

The Grey Market Premium (GMP) refers to the unofficial price at which IPO shares trade before listing on stock exchanges. It is often used as an informal indicator of expected listing performance. A positive GMP indicates potential listing gains, whereas a negative GMP suggests possible listing at a discount.

However, GMP is highly volatile and unregulated. Investment decisions should not rely solely on GMP movements. Investors must carefully evaluate company fundamentals, valuation metrics, subscription demand, and broader market conditions before investing.

Clean Max Enviro Energy Solutions IPO Allotment Status

The allotment of shares is expected to be finalized on February 26, 2026. Investors who have applied can check their allotment status online via the registrar’s official website.

How to Check IPO Allotment Status

1. Visit the MUFG Intime IPO allotment page.

2. Select “Clean Max Enviro Energy Solutions” from the dropdown.

3. Enter PAN, Application Number, or DP Client ID/Demat Account Number.

4. Click on “Search”.

5. The screen will display shares applied and shares allotted.

The shares are expected to be credited on February 27, 2026, ahead of listing on March 2, 2026.

Final Overview

Clean Max Enviro Energy Solutions IPO offers investors exposure to India’s leading C&I renewable energy platform with over 5 GW combined operational and contracted capacity. While institutional participation has shown moderate traction on Day 1, retail and NII segments are gradually building momentum.

With a relatively modest GMP of ₹2 and subscription at 0.11 times on Day 1, investor sentiment appears cautious but evolving. As always, investors should assess valuation, business fundamentals, and sector outlook before making an informed decision.

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