Clean Max Enviro Energy Solutions IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Feb 23 to Feb 25 2026
Price Band
₹1000 - 1053
Current GMP
₹960.0 (-8.83%)
Subscription
0.99 times
IPO Details
| IPO Date | 23 to 25 Feb, 2026 |
| Listing Date | Mon, Mar 2, 2026 |
| Face Value | ₹ 1 per share |
| Price Band | ₹1000 to ₹1053 |
| Issue Price | ₹1053 per share |
| 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 |
| BSE Script Code / NSE Symbol | 544717 / CLEANMAX |
| ISIN | INE647U01026 |
IPO Date
23 to 25 Feb, 2026
Listing Date
Mon, Mar 2, 2026
Face Value
₹ 1 per share
Price Band
₹1000 to ₹1053
Issue Price
₹1053 per share
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
BSE Script Code / NSE Symbol
544717 / CLEANMAX
ISIN
INE647U01026
IPO Subscription Details
| Anchor | 1 |
| QIB (Ex Anchor) | 2.99 |
| NII | 0.57 |
| bNII (> ₹10L) | 0.82 |
| sNII (< ₹10L) | 0.07 |
| Retail | 0.07 |
| Employees | 0.11 |
| Total ** | 0.99 |
Anchor
1
QIB (Ex Anchor)
2.99
NII
0.57
bNII (> ₹10L)
0.82
sNII (< ₹10L)
0.07
Retail
0.07
Employees
0.11
Total **
0.99
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | EMP | Total |
|---|---|---|---|---|---|---|---|
| Feb 2 3 (Day 1) | 1.09 | 0.21 | 0.31 | 0.01 | 0.02 | 0.03 | 0.36 |
| Feb 2 4 (Day 2) | 1.27 | 0.44 | 0.63 | 0.04 | 0.04 | 0.05 | 0.47 |
| Feb 2 5 (Day 3) | 2.99 | 0.57 | 0.82 | 0.07 | 0.07 | 0.11 | 0.99 |
DayFeb 2
3 (Day 1)
QIB (Ex Anchor)1.09
NII0.21
NII (> ₹10L)0.31
NII (< ₹10L)0.01
Retail0.02
EMP0.03
Total0.36
DayFeb 2
4 (Day 2)
QIB (Ex Anchor)1.27
NII0.44
NII (> ₹10L)0.63
NII (< ₹10L)0.04
Retail0.04
EMP0.05
Total0.47
DayFeb 2
5 (Day 3)
QIB (Ex Anchor)2.99
NII0.57
NII (> ₹10L)0.82
NII (< ₹10L)0.07
Retail0.07
EMP0.11
Total0.99
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 02-03-2026 | 1053.00 | -35(-3.32%) | 1018 |
| 01-03-2026 | 1053.00 | -35(-3.32%) | 1018 |
| 28-02-2026 | 1053.00 | -35(-3.32%) | 1018 |
| 27-02-2026 | 1053.00 | -14(-1.33%) | 1039 |
| 26-02-2026 | 1053.00 | -11(-1.04%) | 1042 |
| 25-02-2026 | 1053.00 | -17(-1.61%) | 1036 |
| 24-02-2026 | 1053.00 | -3(-0.28%) | 1050 |
| 23-02-2026 | 1053.00 | 1(0.09%) | 1054 |
| 22-02-2026 | 1053.00 | 4(0.38%) | 1057 |
| 21-02-2026 | 1053.00 | 4(0.38%) | 1057 |
| 20-02-2026 | 1053.00 | 3(0.28%) | 1056 |
| 19-02-2026 | 1053.00 | 3(0.28%) | 1056 |
| 18-02-2026 | 1053.00 | 9(0.85%) | 1062 |
| 17-02-2026 | 1053.00 | 14(1.33%) | 1067 |
| 16-02-2026 | 0(0.00%) | (0.00%) | |
| 15-02-2026 | 0(0.00%) | (0.00%) | |
| 14-02-2026 | 0(0.00%) | (0.00%) | |
| 13-02-2026 | 0(0.00%) | (0.00%) | |
| 12-02-2026 | 0(0.00%) | (0.00%) | |
| 11-02-2026 | 0(%) | (%) |
Date02-03-2026
Price1053.00
GMP-35(-3.32%)
Estimate List Price1018
Date01-03-2026
Price1053.00
GMP-35(-3.32%)
Estimate List Price1018
Date28-02-2026
Price1053.00
GMP-35(-3.32%)
Estimate List Price1018
Date27-02-2026
Price1053.00
GMP-14(-1.33%)
Estimate List Price1039
Date26-02-2026
Price1053.00
GMP-11(-1.04%)
Estimate List Price1042
Date25-02-2026
Price1053.00
GMP-17(-1.61%)
Estimate List Price1036
Date24-02-2026
Price1053.00
GMP-3(-0.28%)
Estimate List Price1050
Date23-02-2026
Price1053.00
GMP1(0.09%)
Estimate List Price1054
Date22-02-2026
Price1053.00
GMP4(0.38%)
Estimate List Price1057
Date21-02-2026
Price1053.00
GMP4(0.38%)
Estimate List Price1057
Date20-02-2026
Price1053.00
GMP3(0.28%)
Estimate List Price1056
Date19-02-2026
Price1053.00
GMP3(0.28%)
Estimate List Price1056
Date18-02-2026
Price1053.00
GMP9(0.85%)
Estimate List Price1062
Date17-02-2026
Price1053.00
GMP14(1.33%)
Estimate List Price1067
Date16-02-2026
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date15-02-2026
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date14-02-2026
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date13-02-2026
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date12-02-2026
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date11-02-2026
Price
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| IPO Open | Mon, Feb 23, 2026 |
| IPO Close | Wed, Feb 25, 2026 |
| Allotment | Thu, Feb 26, 2026 |
| Refund | Thu, Feb 26, 2026 |
| Credit of Shares | Fri, Feb 27, 2026 |
| Listing | Mon, Mar 2, 2026 |
IPO Open
Mon, Feb 23, 2026
IPO Close
Wed, Feb 25, 2026
Allotment
Thu, Feb 26, 2026
Refund
Thu, Feb 26, 2026
Credit of Shares
Fri, Feb 27, 2026
Listing
Mon, Mar 2, 2026
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | ₹14,742 |
| Retail (Max) | 13 | 182 | ₹1,91,646 |
| S-HNI (Min) | 14 | 196 | ₹2,06,388 |
| S-HNI (Max) | 67 | 938 | ₹9,87,714 |
| B-HNI (Min) | 68 | 952 | ₹10,02,456 |
ApplicationRetail (Min)
Lots1
Shares14
Amount₹14,742
ApplicationRetail (Max)
Lots13
Shares182
Amount₹1,91,646
ApplicationS-HNI (Min)
Lots14
Shares196
Amount₹2,06,388
ApplicationS-HNI (Max)
Lots67
Shares938
Amount₹9,87,714
ApplicationB-HNI (Min)
Lots68
Shares952
Amount₹10,02,456
Key Performance Indicator
| ROE | 0.43% |
| Debt/Equity | 2.53 |
| RoNW | 0.43% |
| Price to Book Value | 4.11 |
ROE
0.43%
Debt/Equity
2.53
RoNW
0.43%
Price to Book Value
4.11
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| Clean Max Enviro Energy Solutions | 2.88 | 2.79 | 250.93 | 1.09 | ||
| ACME Solar Holdings | 4.55 | 4.53 | 74.54 | 49.46 | 5.59 | 3.03 |
| NTPC Green Energy | 0.67 | 0.67 | 21.88 | 132.94 | 2.58 | 4.24 |
| Adani Green Energy | 8.37 | 8.37 | 58.63 | 119.14 | 13.48 | 17.19 |
| ReNew Energy Global PLC | 10.92 | 10.81 | 310.40 | 44.84 | 3.39 | 1.56 |
Company NameClean Max Enviro Energy Solutions
EPS (Basic)2.88
EPS (Diluted)2.79
NAV (₹ per share)250.93
P/E (x)
RoNW (%)1.09
P/BV Ratio
Company NameACME Solar Holdings
EPS (Basic)4.55
EPS (Diluted)4.53
NAV (₹ per share)74.54
P/E (x)49.46
RoNW (%)5.59
P/BV Ratio3.03
Company NameNTPC Green Energy
EPS (Basic)0.67
EPS (Diluted)0.67
NAV (₹ per share)21.88
P/E (x)132.94
RoNW (%)2.58
P/BV Ratio4.24
Company NameAdani Green Energy
EPS (Basic)8.37
EPS (Diluted)8.37
NAV (₹ per share)58.63
P/E (x)119.14
RoNW (%)13.48
P/BV Ratio17.19
Company NameReNew Energy Global PLC
EPS (Basic)10.92
EPS (Diluted)10.81
NAV (₹ per share)310.40
P/E (x)44.84
RoNW (%)3.39
P/BV Ratio1.56
IPO Reservation
| QIB Shares Offered | 1,45,62,451 (49.47%) |
| − Anchor Investor Shares Offered | 87,46,437 (29.71%) |
| − QIB (Ex. Anchor) Shares Offered | 58,16,014 (19.76%) |
| NII (HNI) Shares Offered | 43,68,735 (14.84%) |
| − bNII > ₹10L | 29,12,490 (9.89%) |
| − sNII < ₹10L | 14,56,245 (4.95%) |
| Retail Shares Offered | 1,01,93,715 (34.63%) |
| Employee Shares Offered | 3,14,795 (1.07%) |
| Total Shares Offered | 2,94,39,696 (100.00%) |
QIB Shares Offered
1,45,62,451 (49.47%)
− Anchor Investor Shares Offered
87,46,437 (29.71%)
− QIB (Ex. Anchor) Shares Offered
58,16,014 (19.76%)
NII (HNI) Shares Offered
43,68,735 (14.84%)
− bNII > ₹10L
29,12,490 (9.89%)
− sNII < ₹10L
14,56,245 (4.95%)
Retail Shares Offered
1,01,93,715 (34.63%)
Employee Shares Offered
3,14,795 (1.07%)
Total Shares Offered
2,94,39,696 (100.00%)
Information about company
Clean Max Enviro is India’s largest commercial and industrial (“C&I”) renewable energy provider as of March 31, 2025, according to the CRISIL Report. As of July 31, 2025, we have 2.54 GW of operational, owned, and managed capacity and an additional 2.53 GW of contracted capacity under execution.
Its key offerings include supplying renewable power, providing energy services, and offering carbon credit solutions. We cater to a wide range of customers, including Technology customers and conventional C&I customers<.
The company's expertise covers Energy contracting, Engineering, procurement, and construction (EPC), and Operation and maintenance (O&M) of renewable energy plants (solar, wind, and hybrid).
Business Offerings
Competitive Strengths
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of the Company and/or certain of the Subsidiaries 1,122.67 2 General corporate purposes 23.79 Total 1,146.46
Disclaimer
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