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Clean Max Enviro Energy Solutions IPO Review

Clean Max Enviro Energy Solutions IPO has been reviewed by 18 analysts, and the overall consensus is Apply — carrying a score of 73. Out of the 18 analysts who have covered this IPO, 10 recommend subscribing while 8 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹1000-1053 per share, with a minimum application size of 14 shares (minimum investment of approximately ₹14,742 at the upper band). Subscription ran from 23 Feb 2026 to 25 Feb 2026. The issue size is ₹3,100 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for Clean Max Enviro Energy Solutions IPO is quoting at ₹-35 (-3%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
73/ 100
Apply 10 of 18 recommend subscribing
How analysts voted
Apply 10
May apply 1
Neutral 5
Avoid 2
Not rated 6

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Clean Max Enviro Energy Solutions, set up in 2010 and based in Mumbai, is a leading provider of renewable energy solutions to commercial and industrial customers. Revenue grew from ₹960.98 crore in FY23 to ₹1,610.34 crore in FY25 at an operating margin above 22 percent. Ten of the twenty-four analysts said subscribe, five stayed neutral and two said avoid.

Listing gains

Listing gain expectations remain muted due to stretched valuations (~360–438x P/E) and most analysts clearly state this is not a listing pop play. The IPO appears fully priced, making short-term premium uncertain.

Short-term strategy

The near-term outlook is neutral to cautious as high debt and thin profitability may limit immediate upside. Sentiment could improve gradually if debt repayment translates into better earnings visibility.

Long-term strategy

Over the long run, the company is viewed positively as a strong C&I renewable energy leader benefiting from AI/data centre demand and long-term PPAs. It suits patient, high-risk investors looking to participate in India’s green energy transition story.

How this is written: an AI-assisted summary of the 24 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Clean Max Enviro Energy Solutions IPO?

The analyst consensus for Clean Max Enviro Energy Solutions IPO tracked on this page is Apply, with a score of 73/100. Out of 18 analysts who have reviewed this IPO, 10 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 73 mean for Clean Max Enviro Energy Solutions IPO?

The score of 73 is an aggregate of all analyst ratings tracked for Clean Max Enviro Energy Solutions IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Clean Max Enviro Energy Solutions IPO?

Clean Max Enviro Energy Solutions IPO listed on March 2, 2026 at ₹960, against the issue price of ₹1053 — a loss of -8.83% (₹93 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Clean Max Enviro Energy Solutions IPO?

Clean Max Enviro Energy Solutions IPO was priced at ₹1000-1053 per share. The minimum lot size is 14 shares, making the minimum investment approximately ₹14,742 at the upper end of the price band. Subscription ran from 23 Feb 2026 to 25 Feb 2026.

Explore Clean Max Enviro Energy Solutions IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Clean Max Enviro Energy Solutions IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Apply
Score
73 / 100
Listed at
₹960
Full IPO details