Clean Max Enviro Energy Solutions IPO
Clean Max Enviro Energy Solutions IPO — date, price band, GMP & allotment 2026
Clean Max Enviro Energy Solutions IPO opens on 20 February 2026, closing 24 February, with allotment on 25th and listing on 27th. Founded in 2010, this Mumbai-based firm leads India's C&I renewable energy space. It thrives on OPEX and CAPEX models, delivering onsite solar, wind hybrids, and decarbonization via long-term PPAs to giants like Google, Apple. Presence spans India primarily, extending to UAE, Thailand, Bahrain.
Stock price
Clean Max Enviro Energy Solutions is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 September.
- Open 23 Feb 2026
- Close 25 Feb 2026
- Allotment 26 Feb 2026
- Refund/credit 26 Feb 2026
- Listing 02 Mar 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 25 Feb, 2026 |
|---|---|
| Price Band | ₹1000 – ₹1053 |
| Face Value | ₹1 |
| Lot Size | 14 Shares |
| Issue Size | ₹3100 Cr |
| Sale Type | Fresh Capital & OFS |
| Listing On | NSE & BSE |
| Employee Discount | Rs 100.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,742 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 14 shares at the ₹1053 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 14 | ₹14,742 |
| Retail (max) | 13 | 182 | ₹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 |
Three years of numbers
All figures in ₹ crore, as reported in the Clean Max Enviro Energy Solutions offer document.
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Revenue | 1,610.34 | 1,425.31 | 960.98 |
| OPM % | 22.42 | 23.06 | |
| EBITDA | 1,015.07 | 741.57 | 405.92 |
| Net Profit | 19.43 | -37.64 | -59.47 |
| Debt | 7,973.70 | 5,514.56 | 3,843.42 |
| Assets | 13,279.25 | 9,076.55 | 7,000.14 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Clean Max Enviro Energy Solutions RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Clean Max Enviro Energy Solutions IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹3.25 |
| P/E Ratio (x) | 324.28 |
| Market Cap at Offer Price (₹ Cr) | ₹6,295.32 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1053 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹1,200.00 Cr of the issue is earmarked to named objects.
Clean Max Enviro Energy Solutions IPO Anchor Investors
41 anchor investors across 30 fund houses committed ₹920.97 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The company offers renewable energy solutions including solar, wind and hybrid power projects, along with engineering, procurement and construction (EPC) services and operation and maintenance support. Its business model is largely based on long-term power purchase agreements (PPAs), group captive projects and energy-as-a-service offerings for corporate clients. Clean Max focuses on helping businesses reduce energy costs and carbon footprint, while generating stable revenues through long-term contracts and diversified industrial clientele.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
+91 22 6252 000
The bankers & the filings
Who is running the book, and the documents this page is built from.
Clean Max Enviro Energy Solutions IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
27 issues handledBest listing: LG Electronics India (+50.0%). Weakest: Purple Style Labs (-7.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Clean Max Enviro Energy Solutions?
The current Grey Market Premium is ₹-35, or -3% over the issue price.
What is the Clean Max Enviro Energy Solutions IPO price band?
₹1000 to ₹1053, on a face value of ₹1.
When is the allotment?
The basis of allotment is 26 February 2026, with listing on 2 March 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
