CleanMax Powers Forward with Rs 3,100-Crore IPO Launch

CleanMax Enviro Energy Solutions has announced its Rs 3,100-crore IPO, opening February 23. The renewable energy provider plans to utilize proceeds for debt repayment and corporate purposes. Originally slated for Rs 5,200 crore, the IPO includes a fresh shares issue and an offer-for-sale from key promoters.

CleanMax Enviro Energy Solutions, a key player in the commercial and industrial renewable energy sector, announced its initial public offering (IPO) worth Rs 3,100 crore, set to begin on February 23. The company has set the share price range between Rs 1,000 and Rs 1,053, valuing it at Rs 12,325 crore at the higher end.

The IPO, concluding on February 25, involves a fresh issue of shares worth up to Rs 1,200 crore and a Rs 1,900 crore offer-for-sale by promoters and shareholder. Previously expected to be Rs 5,200 crore, the reduced IPO size was confirmed against earlier preliminary filings in August 2025.

Proceeds from the fresh issue will primarily repay debt, with the remainder allocated for general corporate needs. CleanMax anticipates its stock market debut on March 2. The company, founded in 2010, is recognized for providing net zero and decarbonisation solutions and boasts strategic partnerships with leading firms like Amazon, Google, and Cisco.

(With inputs from agencies.)