{"id":6372,"date":"2026-02-19T13:41:34","date_gmt":"2026-02-19T13:41:34","guid":{"rendered":"https:\/\/www.paytmmoney.com\/blog\/?p=6372"},"modified":"2026-02-20T04:10:24","modified_gmt":"2026-02-20T04:10:24","slug":"clean-max-enviro-energy-solutions-ipo-review-gmp-price-financials-2026","status":"publish","type":"post","link":"https:\/\/www.paytmmoney.com\/blog\/clean-max-enviro-energy-solutions-ipo-review-gmp-price-financials-2026\/","title":{"rendered":"Clean Max Enviro Energy Solutions IPO Review: Key Details, Company Overview, Industry Context & Financials"},"content":{"rendered":"

Clean Max Enviro Energy Solutions IPO is a book-built public issue with a total size of approximately \u20b93,100 crore, comprising both a fresh issue and an offer-for-sale component. The issue includes a fresh issue aggregating up to \u20b91,200 crore and an Offer For Sale (OFS) aggregating up to \u20b91,900 crore by existing shareholders.<\/span><\/p>\n

The IPO subscription window opened on February 23, 2026 and closed on February 25, 2026. The basis of allotment was finalised on February 26, 2026, and the shares are scheduled to list on both BSE and NSE on March 2, 2026, subject to regulatory approvals.<\/span><\/p>\n

The IPO price band is fixed at \u20b91,000 to \u20b91,053 per equity share. Investors must apply in a lot size of 14 shares, with retail investors required to invest a minimum amount of \u20b914,742 at the upper price band of \u20b91,053. Retail maximum, S-HNI and B-HNI investment limits vary depending on the number of lots applied.<\/span><\/p>\n

Axis Capital Limited is the Book Running Lead Manager, and <\/span>MUFG Intime India Private Limited<\/span><\/a> is the Registrar of the IPO.<\/span><\/p>\n

(<\/span><\/i>Source:<\/i><\/b> RHP, Chittorgarh)<\/span><\/i><\/span><\/p>\n

Company Overview<\/b><\/h2>\n

Clean Max Enviro Energy Solutions Limited is a renewable energy company focused on providing clean power solutions to commercial and industrial clients. The company develops, owns and operates solar, wind and hybrid renewable energy assets across multiple Indian states.<\/span><\/p>\n

It primarily supplies electricity under long-term power purchase agreements to corporate customers seeking to reduce carbon emissions and manage energy costs efficiently.<\/span><\/p>\n

As of July 31, 2025, the company had approximately 2.54 GW of operational renewable energy capacity, including owned and managed assets. In addition, around 2.53 GW of capacity was contracted and under execution, supported by a substantial pipeline of projects at various development stages.<\/span><\/p>\n

Clean Max positions itself as a decarbonisation partner for businesses aiming to achieve sustainability and net zero targets.<\/span><\/p>\n

(<\/span><\/i>Source:<\/i><\/b> RHP<\/span><\/i><\/a>)<\/span><\/i><\/span><\/p>\n

Industry Context<\/b><\/h2>\n

The renewable energy sector in India is expanding rapidly due to structural and policy driven factors. Key industry drivers include:<\/span><\/p>\n

    \n
  • Global renewable energy capacity reached 4,924 GW in 2024, accounting for 46% of total installed power capacity worldwide.<\/span>
    \n<\/span><\/li>\n
  • Solar capacity expanded from 327 GW in 2016 to 2,168 GW in 2024, registering strong double digit growth globally.<\/span>
    \n<\/span><\/li>\n
  • India is the third largest electricity consumer and ranks third globally in total installed renewable energy capacity.<\/span>
    \n<\/span><\/li>\n
  • India\u2019s non-fossil fuel based power capacity increased to 47.1% in 2024, supported by policy incentives and infrastructure upgrades.<\/span>
    \n<\/span><\/li>\n
  • Solar capacity in India rose from 2.6 GW in fiscal 2014 to 106 GW in fiscal 2025, reflecting accelerated adoption.<\/span><\/li>\n<\/ul>\n

    (<\/span><\/i>Source:<\/i><\/b> RHP)<\/span><\/i><\/span><\/p>\n

    Business Strengths<\/b><\/h2>\n
      \n
    • Established presence in the commercial and industrial renewable energy segment.<\/span><\/li>\n
    • Diversified portfolio across solar, wind and hybrid power projects.<\/span><\/li>\n
    • Long-term contracts supporting revenue stability and visibility<\/li>\n
    • Multi-gigawatt operational and contracted project base.<\/span><\/li>\n
    • Strong project development and execution capabilities.<\/span><\/li>\n
    • Focus on energy efficiency and carbon reduction solutions.<\/span><\/li>\n<\/ul>\n

      (<\/span><\/i>Source:<\/i><\/b> RHP)<\/span><\/i><\/span><\/p>\n

      Financial Performance<\/b><\/h2>\n

      Clean Max Enviro Energy Solutions Limited \u2013 Restated Consolidated Financials (\u20b9 in crore)<\/b><\/h3>\n
      \n\n\n\n\n\n\n\n\n\n\n
      Particulars<\/th>\nSept 30, 2025<\/th>\nMarch 31, 2025<\/th>\nMarch 31, 2024<\/th>\nMarch 31, 2023<\/th>\n<\/tr>\n<\/thead>\n
      Assets<\/td>\n16,945.65<\/td>\n13,279.25<\/td>\n9,076.55<\/td>\n7,000.14<\/td>\n<\/tr>\n
      Total Income<\/td>\n969.35<\/td>\n1,610.34<\/td>\n1,425.31<\/td>\n960.98<\/td>\n<\/tr>\n
      Profit After Tax<\/td>\n19.00<\/td>\n19.43<\/td>\n-37.64<\/td>\n-59.47<\/td>\n<\/tr>\n
      EBITDA<\/td>\n637.85<\/td>\n1,015.07<\/td>\n741.57<\/td>\n405.92<\/td>\n<\/tr>\n
      Net Worth<\/td>\n2,598.34<\/td>\n2,545.44<\/td>\n1,817.96<\/td>\n1,209.93<\/td>\n<\/tr>\n
      Total Borrowing<\/td>\n10,121.46<\/td>\n7,973.70<\/td>\n5,514.56<\/td>\n3,843.42<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
      \u2190 Swipe horizontally to view full financial data \u2192<\/div>\n