Clean Max Enviro Energy Solutions Ltd IPO 2026 – Key Details, Price, Lot & GMP
Latest Grey Market Premium & IPO Details
Clean Max Enviro Energy Solutions IPO 2026 – Key Info & Highlights
The Clean Max Enviro Energy Solutions Ltd IPO 2026, valued at ₹3,100 crore, will open for subscription from 23rd February to 25th February 2026. The issue comprises a fresh issue of ₹1,200 crore and an offer for sale of ₹1,900 crore by existing shareholders. Each share has a face value of ₹1, with the price band fixed between ₹1,000 and ₹1,053 per share. Retail investors can apply for a minimum of 1 lot, consisting of 14 shares, translating to an investment of ₹14,742 per lot.
The tentative listing date for the IPO on BSE and NSE is 2nd March 2026, offering investors an opportunity to participate in one of India’s leading renewable energy company’s public offerings.
📌 IPO Details
| Company Name | Clean Max Enviro Energy Solutions IPO |
|---|---|
| Sector / Industry | Renewable Energy |
| IPO Open Date | 23-02-2026 |
| IPO Close Date | 25-02-2026 |
| Allotment Date | 26-02-2026 |
| Refund Date | 26-02-2026 |
| Share Credit Date | 27-02-2026 |
| Listing Date | 02-03-2026 |
| Price Band | ₹1000 - ₹1053 |
| Lot Size | 14 Shares |
| Min Investment | ₹14,742 |
| Net Issue Size | ₹3100.00 Cr |
| Fresh Issue | ₹1200.00 Cr |
| OFS | ₹1900.00 Cr |
| IPO Listing At | BSE NSE |
| DRHP | View DRHP |
| RHP | View RHP |
| Issue Type | Book Build Issue |
| Face Value | ₹1 Per Equity Share |
| Discount | Employee: ₹100.00 |
| Promoter Holding Pre IPO | 74.89 % |
| Promoter Holding Post IPO | 49.08% |
| Min Small HNI Lots | ₹2,06,388 ( 14 lots Price ) |
| Min Big HNI Lots | ₹10,02,456 ( 68 lots Price ) |
* All Dates are provisional
Quota Allocation
| Category | Allocation (%) |
|---|---|
| Retail Investors | 35% |
| QIB (Qualified Institutional Buyers) | 50% |
| HNI (High Net Worth Individuals) | 15% |
📈 Grey Market Premium (GMP) Day-wise Trend
| GMP Date | GMP Price | Trend | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 02-03-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 02-03-2026 09:47 |
| 01-03-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 01-03-2026 23:20 |
| 28-02-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 28-02-2026 23:20 |
📝 About Clean Max Enviro Energy Solutions
Clean Max Enviro Energy Solutions Ltd is one of India’s foremost renewable energy providers, focusing on delivering commercial and industrial (C&I) clean energy solutions that help businesses achieve their sustainability and net-zero targets. Established in 2010, the company has consistently supported large organizations in transitioning to efficient, low-carbon energy systems.
Based in Mumbai, Maharashtra, Clean Max extends its operations beyond India to countries like the UAE, Thailand, and Bahrain, catering to more than 500 corporate clients with customized renewable energy solutions. Its portfolio includes onsite and offsite solar and wind installations, comprehensive energy management services, carbon credit advisory, and end-to-end project execution including EPC (Engineering, Procurement & Construction) and O&M (Operations & Maintenance) for hybrid energy plants.
As a trailblazer in India’s C&I renewable sector, Clean Max boasts an operational capacity exceeding 2.5 GW and a robust pipeline of long-term agreements with clients spanning technology, infrastructure, manufacturing, FMCG, pharmaceuticals, and real estate. The company emphasizes scalable, cost-effective, and reliable energy solutions, enabling businesses to achieve both financial efficiency and environmental responsibility.
With a mission to make clean energy accessible, dependable, and impactful, Clean Max integrates strategic planning, prudent capital deployment, and risk management into all its operations, ensuring sustainable growth for its clients and itself.
Business Segments
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Renewable Power Supply – Design, development, and operation of solar, wind, and hybrid energy projects, supplying clean power to commercial and industrial customers.
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Turnkey Project Solutions (EPC & O&M) – Comprehensive project management including engineering, procurement, construction, and ongoing operations & maintenance for renewable energy plants.
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Energy Services & Carbon Solutions – Offering energy efficiency consulting, carbon credits, and sustainability advisory to help clients meet ESG and net-zero goals.
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Offsite & Rooftop Solutions – Providing offsite solar farms and rooftop installations tailored to corporate energy needs, enabling flexible, cost-effective renewable energy adoption.
Clean Max Enviro Energy Solutions Revised Financials
Profit / Loss & Total Assets (Last 3 Years)
| Financial Year | Revenue / Total Income (₹ Cr) | Profit / Loss (₹ Cr) | Total Assets (₹ Cr) |
|---|---|---|---|
| FY 2023 | 960.98 | -59.47 | 7,000.14 |
| FY 2024 | 1,425.31 | -37.64 | 9,076.55 |
| FY 2025 | 1,610.34 | +19.43 | 13,279.25 |
Note: Positive figures indicate profit, while negative figures indicate loss. Total Assets are reported in ₹ Crore. (Source: IPO Prospectus / DRHP)
Clean Max Enviro Energy Solutions Ltd – Use of IPO Proceeds
- Repayment / Pre‑payment of Borrowings – ₹1,200 crore – Funds will be primarily used to settle, in full or in part, certain outstanding borrowings of the Company and its subsidiaries, reducing debt and easing financial obligations.
- General Corporate Purposes – Remaining Proceeds – The balance of the IPO funds will support everyday business operations, strategic initiatives, and growth activities to strengthen company performance and scalability.
Clean Max Enviro Energy Solutions Ltd Strengths
- Comprehensive Suite of Customer-Centric Capabilities – Provides end-to-end renewable energy solutions tailored to commercial & industrial clients.
- Timely and Cost-Effective Project Development, Execution and Management Capabilities – Proven ability to execute projects efficiently, on time, and within budget.
- Efficient Capital Allocation and Risk Management – Strong financial discipline ensures optimal use of capital and mitigates operational and market risks.
Clean Max Enviro Energy Solutions Ltd – Key Risks
- Historical Losses & Profitability Risk – The company incurred losses in FY23 and FY24 before reporting a profit in FY25. If it cannot sustain cash profits and meet debt obligations, its future profitability may remain uncertain.
- Project Execution & Delay Risk – Delays in project development, cost overruns, or shorter than expected project capacity can hurt cash flows and operational performance.
- Geographical Concentration Risk – A large proportion of its renewable energy revenue comes from projects in Karnataka and Gujarat. Adverse developments or regulatory changes in these states could disproportionately affect the business.
- Customer Concentration Risk – A significant share of revenue is derived from top customers. Losing or failing to renew contracts with major clients could materially impact financial results.
- Regulatory & Policy Risk – The business depends heavily on renewable energy incentives, open access policies, and electricity regulations. Changes in these policies could negatively affect operations or profitability.
- Supplier & Procurement Risk – Delay or disruption in procuring key solar modules, wind turbines, or other essential equipment may slow project execution or raise costs.
- Land & Title Risks – Any defects or uncertainty in land titles, or difficulties in securing land rights for renewable projects, could delay development or raise legal costs.
- Legal & Litigation Risks – Ongoing or future legal proceedings involving the company, its directors, or subsidiaries may adversely affect reputation, financial condition, or cash flows.
Clean Max Enviro Energy Solutions Ltd
Leading Commercial & Industrial Renewable Energy & Net Zero Solutions Provider
| Founded in: | 2010 |
|---|---|
| MD/CEO: | Kuldeep Jain |
| Address: | 4th Floor, The International, 16 Maharshi Karve Road, New Marine Lines Cross Road No. 1, Churchgate, Mumbai, Maharashtra 400 020, India |
| Website: | https://www.cleanmax.com |
| Phone: | +91 22 6252 0000 |
| Email: | info@cleanmax.com |
| Services: | Renewable power (solar, wind & hybrid), energy services, carbon credit solutions, Engineering, Procurement & Construction (EPC), and Operations & Maintenance (O&M) |
IPO Quick Info
23 Feb 2026
25 Feb 2026
Upcoming
Lead Manager(s)
- Axis Capital Ltd.
- BNP Paribas India
- BOB Capital Markets Ltd.
- HSBC Securities and Capital Markets (India) Pvt. Ltd.
- IIFL Securities Ltd.
- JP Morgan India Pvt. Ltd.
- Nomura Financial Advisory and Securities (India) Pvt. Ltd.
- SBI Capital Markets Ltd.
Frequently Asked Questions
Investing in Clean Max IPO offers exposure to a leading renewable energy company with a 2.5 GW operational capacity, long-term contracts, and growth potential in the C&I solar and wind energy sector.