Clean Max Enviro Energy Solutions IPO
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Clean Max Enviro Energy Solutions IPO details
Schedule of Clean Max Enviro Energy Solutions
| Issue open date | 23 Feb 2026 |
| Issue close date | 25 Feb 2026 |
| UPI mandate deadline | 25 Feb 2026 (5 PM) |
| Allotment finalization | 26 Feb 2026 |
| Refund initiation | 27 Feb 2026 |
| Share credit | 27 Feb 2026 |
| Listing date | 02 Mar 2026 |
| Mandate end date | 12 Mar 2026 |
| Lock-in end date for anchor investors (50%) | 28 Mar 2026 |
| Lock-in end date for anchor investors (remaining) | 27 May 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Clean Max Enviro Energy Solutions
Clean Max Enviro Energy Solutions Limited is a commercial and industrial renewable energy company incorporated in 2010 in Mumbai, India. The company was founded by Kuldeep Jain, Pratap Jain and Nidhi Jain, along with corporate promoters BGTF One Holdings (DIFC) Limited and KEMPINC LLP. Clean Max operates across the renewable energy value chain, focusing on solar, wind and hybrid solutions for commercial and industrial customers. The company’s operations span two core segments. The Renewable Energy Power Sales segment supplies clean power through long-term power purchase agreements. The Renewable Energy Services segment provides EPC, operations and maintenance, and carbon-related services. Clean Max delivers both onsite and offsite renewable energy solutions and manages assets across multiple locations in India. Its business model is built on long-term contracts, asset ownership and deep execution capabilities. Key strengths include integrated project development, strong customer relationships, diversified offerings and nearly 15 years of sector experience. Clean Max positions itself as a long-term partner for customers pursuing cost efficiency and decarbonisation goals.
Financials of Clean Max Enviro Energy Solutions
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 3100 |
| Fresh Issue – Proceeds go to the company | 1200 |
| Offer for sale – Proceeds go to the existing investors | 1900 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Pre-payment / repayment of borrowings | 1122.67 (93.56%) |
| General corporate purposes | 77.33 (6.44%) |
Strengths
- Nearly 15 years of experience in commercial and industrial renewable energy.
- Integrated capabilities across project development, EPC, O&M, and power sales.
- Long-term power purchase agreements ensure revenue visibility.
- Diversified portfolio across solar, wind, and hybrid energy solutions.
- Strong promoter background with support from institutional investors.
Risks
- High debt levels may impact cash flows and financial flexibility.
- Business depends on evolving renewable energy and open access regulations.
- Credit risk from commercial and industrial customers.
- Execution risks related to land acquisition, approvals, and grid connectivity.
- Power generation varies due to weather and resource availability.