Clean Max Enviro Energy Solutions IPO Faces Potential Discounted Listing, GMP Indicators Suggest

Clean Max Enviro Energy Solutions IPO Listing: Key Takeaways

Overview Clean Max Enviro Energy Solutions' ₹3,100 crore initial public offering (IPO) has witnessed weak demand, with the issue not fully subscribed in the 3 days of bidding. The allotment was finalized on Thursday, February 26, and the company is set to list on Monday, March 2 on BSE and NSE.

Subscription Details The IPO has been subscribed 94% in total, with the Qualified Institutional Buyers (QIBs) category receiving 2.83 times subscription. The Retail Individual Investors (RIIs) category booked 6%, while the Non Institutional Investors (NII) segment subscribed 54%.

IPO Details The offering is split into two parts: ₹1,200 crore will come from the issuance of new shares, while ₹1,900 crore will be raised through an offer for sale by existing shareholders. The company secured ₹921 crore from anchor investors on February 20 and has set aside shares worth up to ₹30 crore for employees.

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Business Profile and Financial Snapshot As of March 31, 2025, Clean Max Enviro was the largest renewable energy solutions provider serving India's commercial and industrial segment, with operational and managed assets totalling 2.54 GW of renewable capacity. The company reported revenue of ₹1,610.34 crore in FY25, reflecting 13% growth over ₹1,425.31 crore recorded in FY24.

Listing Price The grey market premium (GMP) for Clean Max Enviro Energy Solutions IPO is currently ₹-11, indicating a listing price of ₹1,042, down 1.04% from the issue price.