Clean Max Enviro Energy IPO subscribed 34% so far on Day 1: Check price band, lot size and key dates

Clean Max Enviro Energy IPO: The initial public offering of commercial and industrial renewable energy provider Clean Max Enviro Energy Solutions opened for subscription on Monday, February 23. The issue, with a price band of ₹1,000 to ₹1,053 per share, will end on February 25.

The initial share sale aims to raise ₹3,100 crore by offering new equity shares worth ₹1,200 crore and an offer for sale (OFS) component valued at ₹1,900 crore.

Under the OFS, Kuldeep Jain, KEMPINC LLP, BGTF One Holdings (DIFC), DSDG HOLDING APS and Augment India I Holdings, LLC will divest their stake.

The fresh issue proceeds will be used for repayment of certain outstanding borrowings and general corporate purposes.

Clean Max Enviro Energy IPO Day 1: Subscription status

The issue has been subscribed 34% so far on the first day of bidding. It got bids for 74,84,246 shares as against 2,18,23,329 shares on offer, according to the NSE data until 4:02 pm.

Clean Max Enviro Energy IPO: Lot size

A lot consists of 14 equity shares and in multiples thereafter. Half of the net offer is reserved for qualified institutional buyers, 35% for retail individual investors and 15% for non-institutional investors.

Prior to the IPO, the company mobilised ₹921 crore from anchor investors, including Temasek Holdings, Eastspring, SBI Life, Tata Investment Corp, HDFC Mutual Fund, Nomura Asset Management, ADIA, SBI General, Premji Invest, 360 One Mutual Fund and Franklin Templeton Mutual Fund.

Clean Max Enviro Energy IPO: Key dates

• IPO subscription dates: February 23 to February 25
• Allotment: February 26
• Refund initiation: February 26
• Credit to shares to Demat: February 27
• Listing on NSE and BSE: March 2

CleanMax, founded in 2010, specialises in net zero and decarbonisation solutions for commercial and industrial customers. Its offerings include renewable power supply – solar, wind, and hybrid – energy services and carbon credit solutions.

The company serves customers across sectors such as AI and technology, data centres, cement, steel, pharmaceuticals, real estate, FMCG, and global capability centres. Its projects range from onsite installations at customers' facilities to offsite projects through bilateral power purchase agreements.

Clean Max Enviro Energy IPO GMP