Clean Max Enviro IPO Listing Scheduled for February 23

Key Figures:

• ₹1,000-₹1,053: Clean Max Enviro IPO price band per equity share
• ₹1,018: Estimated listing price per share (3.32% lower than IPO price)
• ₹300 million: Reserved portion of shares for employees
• ₹1,200 crore: Maximum value of new share issue
• ₹1,900 crore: Offer-for-sale (OFS) from promoters and investor shareholder
• ₹1,125 crore: Allocation for debt repayment from new share issue

Listing and Subscription Details

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The Clean Max Enviro IPO listing date has been scheduled for February 23. The IPO allotment was finalised on February 26, with the crediting of shares to demat accounts taking place on February 27. The refunding process for those who did not receive their shares was also completed on February 27.

The IPO received a weak response from retail investors, who subscribed to just 6% of the offering. Non-institutional investors (NIIs) portion was booked 54%, while qualified institutional buyers (QIBs) subscribed 2.83 times. The Clean Max Enviro IPO subscription status stood at 94% on the third day of the IPO.

IPO Allocation

The Clean Max Enviro IPO has allocated:

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• Up to 50% of shares for QIB
• A minimum of 15% for NII
• At least 35% of the total offer for retail investors
• A reserved portion of shares for employees capped at ₹300 million

IPO Details

The Clean Max Enviro IPO is being handled by Axis Capital, JP Morgan India, HSBC Securities and Capital Markets (India), IIFL Capital Services, Nomura Financial Advisory and Securities (India), BOB Capital Markets, and SBI Capital Markets. The registrar for the offering is MUFG Intime India Pvt. Ltd. The IPO price band was fixed in the range of ₹1,000 to ₹1,053 per equity share, with a lot size of 14 equity shares.