Founded in 2010, Clean Max is India’s leader in the Commercial & Industrial (C&I) renewable sector. As of July 2025, they manage a massive 2.54 GW of operational capacity. They are the sustainability partners for giants like Google, Apple, and Amazon.
Clean Max Enviro Energy Solutions IPO
India’s Largest C&I Renewable Energy Provider | Net-Zero Partner
| Event | Date |
|---|---|
| IPO Opens | Monday, Feb 23, 2026 |
| IPO Closes | Wednesday, Feb 25, 2026 |
| Allotment Finalization | Thursday, Feb 26, 2026 |
| Refund/Credit of Shares | Friday, Feb 27, 2026 |
| Tentative Listing Date | Monday, Mar 2, 2026 |
| Investor Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail (Minimum) | 1 Lot | 14 | ₹14,742 |
| Retail (Maximum) | 13 Lots | 182 | ₹1,91,646 |
| Small HNI (Min) | 14 Lots | 196 | ₹2,06,388 |
| Big HNI (Min) | 68 Lots | 952 | ₹10,02,456 |
| Period | Revenue | PAT (Profit) | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|
| 30-Sep-2025 | 969.35 | 19.00 | 637.85 | 2,598.34 | 10,121.46 |
| 31-Mar-2025 | 1,610.34 | 19.43 | 1,015.07 | 2,545.44 | 7,973.70 |
| 31-Mar-2024 | 1,425.31 | -37.64 | 741.57 | 1,817.96 | 5,514.56 |
| 31-Mar-2023 | 960.98 | -59.47 | 405.92 | 1,209.93 | 3,843.42 |
Key Performance Indicators
P/E Ratio: 377.42x
Debt/Equity: 2.53 Leveraged
ROE: 1.27% (FY25)
Employee Discount: ₹100.00 Off
P/B Value: 4.11
Issue Structure
Total Issue: ₹3,100.00 Cr
Fresh Issue: ₹1,200.00 Cr
Offer for Sale: ₹1,900.00 Cr
Promoter Holding (Post): 49.08%
Face Value: ₹1 per share
Founded in 2010, Clean Max is India’s leader in the Commercial & Industrial (C&I) renewable sector. As of July 2025, they manage a massive 2.54 GW of operational capacity. They are the sustainability partners for giants like Google, Apple, and Amazon.
- Largest C&I renewable provider in India (CRISIL Report).
- Long-term PPAs with average tenure of 22+ years for revenue visibility.
- Global presence in UAE, Thailand, and Bahrain.
- ₹1,200.00 Cr: Full or partial repayment of outstanding borrowings for the company and its subsidiaries.
- General Corporate Purposes: Brand building and future growth initiatives.
Website: axiscapital.co.in
Disclaimer: IPO investments are subject to market risks. Read the RHP before investing. Source: forgeup.in Finance Team.
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