CleanMax Enviro Energy Solutions Aims for Rs 5,200 Crore IPO to Propel Growth

CleanMax Enviro Energy Solutions, a renewable energy provider, plans a Rs 5,200 crore IPO. The company aims to raise Rs 1,500 crore from new shares and Rs 3,700 crore through an Offer For Sale. Funds will primarily repay debt. CleanMax specializes in net-zero solutions with significant operational and contracted capacity.

CleanMax Enviro Energy Solutions, a prominent player in the Commercial and Industrial renewable energy market, has officially submitted its draft papers with the Securities and Exchange Board of India (SEBI), aiming to raise a substantial Rs 5,200 crore through an Initial Public Offering (IPO).

This IPO consists of a fresh issue of shares worth up to Rs 1,500 crore and an Offer For Sale (OFS) amounting to Rs 3,700 crore, involving shares from key stakeholders, including founder Kuldeep Pratap Jain and several major investors. Proceeds from the fresh issue will primarily serve to alleviate debt and support general corporate endeavors.

Established in 2010, CleanMax is distinguished for its commitment to net-zero and decarbonization solutions, offering a suite of services including renewable power supply through wind, solar, and hybrid solutions. The company's expansive client base includes leading names like Amazon, Google, and Cisco, while it maintains notable operations across India and internationally.

(With inputs from agencies.)