BSE List Price : ₹

NSE List Price : ₹960.00

subscription

Category	Times
QIBs	2.99x
HNIs	0.57x
Retail	0.07x
Total : 0.99x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	14	₹14,742
Retail Maximum	13	182	₹191,646
S-HNI Minimum	14	196	₹206,388
S-HNI Maximum	67	938	₹987,714
B-HNI Minimum	68	952	₹1,002,456

About the Company

Clean Max Enviro is among the prominent companies in the renewable energy sector. The company has a total operational, owned, and managed capacity of 2.54 GW, along with an additional 2.53 GW of contracted capacity that is currently under execution.

The company primarily operates through two key segments: the Renewable Energy Power Sales segment and the Renewable Energy Services segment. It serves a diverse customer base, including technology companies as well as traditional commercial and industrial (C&I) clients.

In addition, the company’s core strength lies in its ability to develop, execute, and manage projects in a cost-effective and efficient manner. Clean Max Enviro Energy Solutions Ltd. reported a 13% increase in revenue, while its profit after tax (PAT) recorded a significant growth of 152% between FY2024 and FY2025.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2023	₹960.98	₹555.06	₹-59.47	₹7000.14
2024	₹1425.31	₹683.74	₹-37.64	₹9076.55
2025	₹1610.34	₹595.27	₹19.43	₹13279.25
Sep 2025	₹969.35	₹331.49	₹19.00	₹16945.65

Company Promoter

Kuldeep Jain

Pratap Jain

Nidhi Jain

BGTF One Holdings (DIFC) Ltd

Kempinc LLP

Know before investing

• • Strengths

  Solution-Oriented Sales Strategy: A specialised business development team oversees the entire customer lifecycle across India, the UAE, and Thailand, supporting 531 customers and managing 1,127 PPAs as of March 31, 2025. By focusing on smaller, customer-focused engagements, the Company reduces risk, builds stronger client relationships, and improves long-term business visibility through cross-selling opportunities and continuous engagement.

  Wide Range of Customised Product Solutions: The Company offers five key solutions—Onsite, Offsite STU, Offsite CTU, Capex Services, and Carbon Services—allowing it to deliver flexible options that align with customers’ Net Zero objectives. This broad and adaptable portfolio enables tailored clean energy solutions that help clients achieve carbon neutrality and meet their sustainability goals.

• • Risks

  Project Execution Risks: Renewable energy developments are influenced by several external elements, including land acquisition, grid connectivity, resource availability, funding arrangements, equipment supply, and regulatory approvals. Any delays or increase in costs related to these factors could disrupt project timelines and negatively affect cash flows and overall financial performance.

  Land Ownership and Acquisition Risks: Ambiguities in land titles, inconsistencies in land documentation, and difficulties in acquiring land in India may impact project implementation. Problems such as incorrect records, undisclosed encumbrances, or ownership conflicts could lead to delays in project development and expose the Company to potential legal and operational challenges.

Objects of the Issue & Utilisation of proceeds

Repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of our Company and/or certain of our Subsidiaries.
General Corporate Purpose.

Company  Address

Clean Max Enviro Energy Solutions Ltd.
4th Floor,
The International 16 Maharshi Karve Road,
New Marine Lines Cross Road No.1, Churchgate
Mumbai, Maharashtra, 400020
Phone: +91 22 6252 000
Email: Secretarial@cleanmax.com
Website: http://www.cleanmax.com/

IPO Registrar

MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: cleanmax.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

IPO Review

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