Clean Max Enviro Energy Solutions IPO 2026: Price, GMP, Listing Date & Review
25 February 2026 ·
A complete guide on Clean Max Enviro Energy Solutions IPO covering share price, expected date, size, and financial performance
About Clean Max Enviro Energy Solutions Ltd
Clean Max Enviro Energy Solutions is India’s largest commercial and industrial renewable energy provider, as of March 31, 2025, according to the CRISIL Report. The company focuses on providing sustainable energy solutions, with a capacity of 2.54 GW of operational renewable energy projects and an additional 2.53 GW under execution.
Key services include:
Renewable Energy Power Sales – Supplying renewable energy to customers via long-term Power Purchase Agreements (PPAs) and Energy Attribute Purchase Agreements (EAPAs).
Renewable Energy Services – Offering turnkey development services for energy projects, including land acquisition, EPC services, power evacuation, and operation & maintenance (O&M).
Carbon Credit Solutions – Helping businesses reduce their carbon footprint through carbon credits.
The company’s expertise spans across solar, wind, and hybrid renewable energy solutions.
Clean Max Enviro Energy Solutions IPO: Key Details
| Parameter | Details |
|---|---|
| IPO Date | 23 to 25 Feb, 2026 |
| Listing Date | Mon, Mar 2, 2026 |
| Face Value | ₹1 per share |
| Price Band | ₹1,000 to ₹1,053 |
| Lot Size | 14 Shares |
| Sale Type | Fresh Capital & OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹100.00 |
| Total Issue Size | 2,94,39,695 shares (agg. up to ₹3,100 Cr) |
| Fresh Issue | 1,13,96,011 shares (agg. up to ₹1,200 Cr) |
| Offer for Sale | 1,80,43,684 shares of ₹1 (agg. up to ₹1,900 Cr) |
| Share Holding Pre Issue | 10,56,53,268 shares |
| Share Holding Post Issue | 11,70,49,279 shares |
IPO Timetable and Important Dates
| Event | Date |
|---|---|
| IPO Open | Wed, Feb 25, 2026 |
| IPO Close | Fri, Feb 27, 2026 |
| Allotment | Mon, Mar 2, 2026 |
| Refund | Thu, Mar 4, 2026 |
| Credit of Shares | Thu, Mar 4, 2026 |
| Listing | Fri, Mar 5, 2026 |
Business Model and Offerings
Clean Max Enviro Energy Solutions operates across the renewable energy value chain, offering diverse products and services:
Renewable Energy Power Sales
Clean Max supplies renewable energy through PPAs and EAPAs to a variety of industries.
Turnkey Project Development
The company offers comprehensive services from land acquisition to installation and O&M of energy plants.
Carbon Credit Solutions
Clean Max helps clients mitigate their environmental impact through carbon credit generation.
These offerings cater to both domestic clients and international markets, making Clean Max a prominent player in the clean energy space.
Competitive Strengths
Clean Max Enviro has several competitive advantages:
Large-scale Operational Capacity
The company operates 2.54 GW of renewable energy projects, with 2.53 GW under execution, positioning it as a market leader.
Diversified Energy Solutions
Clean Max offers a full suite of services in the renewable energy sector, from power sales to turnkey development and carbon credits.
Strong Client Relationships
The company has established strong partnerships with industrial customers, ensuring repeat business.
Global Delivery Model
Clean Max’s global delivery model allows it to serve customers across multiple regions, including the Middle East and Southeast Asia.
Financial Performance Analysis
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | ₹766.65 Cr | ₹626.33 Cr | ₹386.99 Cr | ₹185.18 Cr |
| Total Income | ₹236.69 Cr | ₹349.71 Cr | ₹181.95 Cr | ₹183.71 Cr |
| Profit After Tax | ₹27.78 Cr | ₹43.87 Cr | ₹18.91 Cr | ₹32.29 Cr |
| EBITDA | ₹70.08 Cr | ₹117.65 Cr | ₹64.94 Cr | ₹63.46 Cr |
| Net Worth | ₹232.27 Cr | ₹204.44 Cr | ₹78.81 Cr | ₹59.90 Cr |
| Total Borrowing | ₹382.91 Cr | ₹330.63 Cr | ₹230.49 Cr | ₹88.81 Cr |
Clean Max Enviro Energy Solutions IPO Price and Valuation Discussion
The Clean Max Enviro Energy Solutions IPO price is set in the range of ₹1,000 to ₹1,053 per share. Given its market position and the fast-growing renewable energy sector, investors should consider:
P/E Ratio: The IPO price will likely be compared with industry peers in the renewable energy space to gauge valuation.
Growth Prospects: Clean Max’s expansion plans and strong order book position it well for future growth.
Clean Max Enviro Energy Solutions IPO
The Clean Max Enviro Energy Solutions IPO GMP reflects the grey market premium, giving investors an idea of the IPO’s likely listing price. However, the GMP is unofficial and subject to change. While a rising GMP indicates strong market interest, it is not always a reliable predictor of long-term performance.
Clean Max Enviro Energy Solutions DRHP Insights
The Clean Max Enviro Energy Solutions DRHP provides vital information that investors should thoroughly review:
Risk Factors: These may include market competition, regulatory changes, and the impact of raw material costs.
Use of IPO Proceeds: Assessing how Clean Max plans to deploy the raised funds will help investors gauge its growth strategy.
Financial Health: Reviewing the company’s profitability, debt levels, and revenue streams is crucial for making informed investment decisions.
Risks to Consider
Regulatory Risks: The renewable energy sector is subject to government policies and regulations, which could affect profitability.
Competition: Clean Max faces competition from other renewable energy firms and traditional energy providers.
Capital Intensive: The company’s business model requires significant capital investment, which could lead to cash flow challenges.
Final Thoughts from ultra
The Clean Max Enviro Energy Solutions IPO offers investors an opportunity to tap into India’s renewable energy sector, which is poised for rapid growth. Clean Max’s strong position in the market, diversified offerings, and expansion plans make it an attractive prospect for long-term investors.
Before making an investment decision, be sure to evaluate:
Final price band
Financial health and growth potential
Risks related to the renewable energy sector
At ultra, we believe in informed, long-term investing. Always consult a financial advisor before making IPO investments.
Disclaimer
This article is for educational purposes only and does not constitute investment advice. Please consult a SEBI-registered financial advisor and read the Red Herring Prospectus carefully before making any investment decisions.