Clean Max Enviro Energy Solutions Ltd., which launched its initial public offering (IPO) to raise over Rs 3,000 crore from the primary market, was subscribed 0.34 times on Monday.
The company is a leading commercial and industrial renewable energy provider. As the subscription for the IPO enters its second day, the grey market premium (GMP) indicated a marginal listing gain of around 0.1% per share.
Here’s all you need to know about the Clean Max Enviro Energy Solutions IPO, including its latest GMP, price band, issue details and more
Clean Max Enviro Energy Solutions IPO GMP Today
According to InvestorGain, the GMP for the Clean Max Enviro Energy Solutions IPO stood at Rs 1 on Feb. 24. It indicates a listing price of Rs 1,054 apiece at a premium of 0.09% compared to the upper limit of the IPO price band.
Note: GMP does not represent official data and is based on speculation.
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Clean Max Enviro Energy Solutions IPO: Total Subscription, Price Band, Issue Details And More
The Clean Max Enviro Energy Solutions IPO is a book-building issue of Rs 3,100 crore. It comprises a fresh issue of 1.14 crore shares worth Rs 1,200 crore and an offer-for-sale (OFS) of 1.8 crore shares amounting to Rs 1,900 crore. The price band for the IPO has been set between Rs 1,000 and Rs 1,053 per share.
On day 1 of subscription, investors bid for 75,07,654 shares against the 2,18,23,329 on offer. Qualified Institutional Investors lead the subscription by subscribing 1.03 times their allotted quota of shares.
To participate in the IPO, retail investors need to bid for a single lot size of 14 shares, requiring an investment of Rs 14,742. Small Non-Institutional Investors (NIIs) need to bid for 14 lots, amounting to an investment of Rs 2,06,388. Big NIIs can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,02,456.
The subscription window for the IPO will remain open from Feb. 23 to Feb. 25. The IPO share allotment status is expected to be finalised on Feb. 26. Refunds to non-allottees will be processed on Feb. 26. The company will transfer shares to the demat accounts of successful bidders on Feb. 27.
Shares of Clean Max Enviro Energy Solutions are tentatively scheduled to be listed on the BSE and NSE on March 2.
Axis Capital Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue.
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Clean Max Enviro Energy Solutions IPO: Use Of Proceeds
The company will use proceeds from the IPO to clear debt and for general corporate purposes.
About Clean Max Enviro Energy Solutions
Business
Clean Max Enviro is a leading provider of renewable energy solutions for commercial and industrial clients. By the end of July 2025, the company had a portfolio of 2.54 GW in operational assets, with an additional 2.53 GW under development or backed by long-term contractual commitments.
Financials
The company reported a 191.4% year-on-year (YoY) jump in net profit to Rs 19 crore in H1FY26 from Rs 6.52 crore in H1FY25. Total income rose 37.3% YoY to Rs 969.35 crore in H1FY26 from Rs 705.85 crore in H1FY25.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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