Clean Max IPO Sees Muted Subscription on Final Day of Bidding, Reaches 51% Booking So Far

Clean Max Enviro Energy Solutions IPO Update

Subscription Figures

The initial public offering (IPO) of Clean Max Enviro Energy Solutions saw a muted response on the final day of bidding on Wednesday, with the issue subscribed 51% so far. As of 12 pm, the IPO received bids for 1.11 crore shares against the 2.18 crore shares on offer.

Category-wise Subscription

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The portion for Qualified Institutional Buyers (QIBs) was subscribed 1.35 times, while the Non-Institutional Investors category was booked 51%. The Retail Individual Investors segment received 5% subscription.

Fundraising

The company had raised Rs 921 crore from anchor investors on February 22. The price band for the issue has been fixed at Rs 1,000-1,053 per share, valuing the company at Rs 12,325 crore at the upper end of the band.

Listing and Allotment

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Clean Max IPO allotment is expected by February 26, while the company is scheduled to make its stock market debut on March 2.

Company Overview

Founded in 2010, Clean Max Enviro Energy Solutions provides renewable energy solutions to commercial and industrial customers. Its portfolio includes wind, solar, and hybrid power supply, along with energy services and carbon credit solutions.

Financial Performance

On the financial front, revenue from operations rose 13% to Rs 1,610.34 crore in FY25 from Rs 1,425.31 crore in FY24. The company reported a net profit of Rs 27.84 crore in FY25.