Clean Max Enviro Energy Solutions
IPO Price: ₹1000 to ₹1053 per share
IPO Dates: 23rd February 2026 – 25th February 2026
Company Overview
Clean Max Enviro is India’s largest commercial and industrial (“C&I”) renewable energy provider as of March 31, 2025, according to the CRISIL Report. As of July 31, 2025, the company has 2.54 GW of operational, owned, and managed renewable energy capacity, along with an additional 2.53 GW of contracted capacity currently under execution.
The company focuses on providing sustainable energy solutions to commercial and industrial clients across sectors.
Key Offerings
Clean Max Enviro’s core offerings include the supply of renewable power, comprehensive energy services, and carbon credit solutions. The company serves a diverse customer base comprising technology companies as well as conventional commercial and industrial (C&I) customers.
Core Expertise
The company has strong capabilities across the renewable energy value chain, including energy contracting, engineering, procurement and construction (EPC), and operation and maintenance (O&M) of renewable energy plants. Its expertise spans solar, wind, and hybrid renewable energy projects.
Business Segments
Renewable Energy Power Sales Segment
Under this segment, the company sells renewable energy to customers through long-term Power Purchase Agreements (PPAs) and Energy Attribute Purchase Agreements (EAPAs), ensuring stable and long-term revenue visibility.
Renewable Energy Services Segment
This segment provides turnkey development services, including land acquisition support, evacuation infrastructure, EPC services, power evacuation solutions, lifetime O&M services, and carbon services offerings.
Competitive Strengths
Clean Max Enviro benefits from a comprehensive suite of customer-centric capabilities, enabling it to deliver end-to-end renewable energy solutions. The company has demonstrated timely and cost-effective project development, execution, and management capabilities. Additionally, it follows an efficient capital allocation strategy supported by disciplined risk management practices.
Bidding Starts In
Clean Max Enviro Energy Solutions IPO Specifics:
| IPO Date | 23 to 25 Feb, 2026 |
| Face Value | ₹1 per share |
| Price Band | ₹1000 to ₹1053 per share |
| Lot Size | 14 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,94,39,695 shares (agg. up to ₹3,100 Cr) |
| Fresh Issue | 1,13,96,011 shares (agg. up to ₹1,200 Cr) |
| Offer for Sale | 1,80,43,684 shares of ₹1 (agg. up to ₹1,900 Cr) |
| Share Holding Pre Issue | 10,56,53,268 shares |
| Share Holding Post Issue | 11,70,49,279 shares |
Clean Max Enviro Energy Solutions IPO Timetable (Important Dates)
| Particulars | Date |
|---|---|
| IPO Open Date | Mon, Feb 23, 2026 |
| IPO Close Date | Wed, Feb 25, 2026 |
| Tentative Allotment | Thu, Feb 26, 2026 |
| Initiation of Refunds | Fri, Feb 27, 2026 |
| Credit of Shares to Demat | Fri, Feb 27, 2026 |
| Listing Date | Mon, Mar 2, 2026 |
Clean Max Enviro Energy Solutions IPO Lot Size
Bidders have the opportunity to bid for a minimum of 14 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | ₹14,742 |
| Retail (Max) | 13 | 1,82 | ₹1,91,646 |
| S-HNI (Min) | 14 | 196 | ₹2,06,388 |
| S-HNI (Max) | 67 | 938 | ₹9,87,714 |
| B-HNI (Min) | 68 | 952 | ₹10,02,456 |
Clean Max Enviro Energy Solutions IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
Clean Max Enviro Energy Solutions IPO Financial Information
| Particulars | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 16,945.65 | 13,279.25 | 9,076.55 | 7,000.14 |
| Total Income | 969.35 | 1,610.34 | 1,425.31 | 960.98 |
| Profit After Tax | 19.00 | 19.43 | -37.64 | -59.47 |
| EBITDA | 637.85 | 1,015.07 | 741.57 | 405.92 |
| Net Worth | 2,598.34 | 2,545.44 | 1,817.96 | 1,209.93 |
| Total Borrowing | 10,121.46 | 7,973.70 | 5,514.56 | 3,843.42 |
Key Performance Indicator -Clean Max Enviro Energy Solutions IPO
| KPI | Value |
|---|---|
| ROE | 1.27% |
| Debt/Equity | 1.97 |
| RoNW | 1.09% |
| Price to Book Value | 4.02 |
| EPS (₹) | 1.84 |
| P/E (x) | 634.34 |
| Promoter Holding | 74.89% |
| Market Cap | ₹12,325.29 Cr. |
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
Clean Max Enviro Energy Solutions IPO DRHP
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