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Clean Max Enviro Energy Solutions Limited IPO
⚫ ListedNSE + BSEMainboard IPOEnergy
Issue Price
₹1000–1053
Issue Size
₹3100 Cr
Lot Size
14 shares
Min. Invest
₹15K
Open Date
23 Feb 2026
Close Date
25 Feb 2026
Allotment
26 Feb 2026
Listing Date
2 Mar 2026
30
IPOGenie Score
Avoid
out of 100
Grey Market Premium
₹-37
-3.51% above issue price
Est. Listing₹1016
GMP is unofficial — not regulated by SEBI.
Listing Performance
-8.83%
Listed at ₹960
Current: ₹998
IPOGenie Score — Clean Max Enviro Energy Solutions Limited
Our 5-factor scoring model: Financial Quality (30) + Subscription (25) + GMP (20) + Business (15) + Risk (10). Total: 30/100 — Avoid.
Financial Quality6/30
Subscription Momentum10/25
GMP Sentiment0/20
Business Quality8/15
Risk Assessment8/10
This score is an analytical tool only, not investment advice. Consult a SEBI-registered advisor.
IPOGenie Market Signal🔴 Bearish
Weak indicators: No GMP. Score 30/100 — high risk.
IPOGenie Review — Clean Max Enviro Energy Solutions Limited
B2B renewable energy to large C&I customers. Long-term PPAs of 10-25 years. 5+ GW total portfolio (operational + pipeline). ESG procurement push from corporates drives demand.
Listed 8.83% below issue price at Rs 960 — worst-performing mainboard IPO of 2026. Negative GMP (-Rs 37) correctly predicted the weak listing. Now at Rs 998, still below issue price. The lesson: 85x PE was clearly too expensive for an infrastructure/energy company. Avoid fresh entry at current levels.
Strengths
- India's largest C&I renewable energy provider
- 2.54 GW operational gives contracted revenue base
- Long-term PPAs provide 10-25 year revenue visibility
Risks
- Listed 8.83% below issue — investors still in loss
- 85x PE was extremely expensive for energy sector
- High debt from asset-heavy renewable projects
- Project execution risk on 2.53 GW pipeline
Clean Max Enviro Energy Solutions Limited IPO — Complete Details
| Open Date | 23 February 2026 |
| Close Date | 25 February 2026 |
| Allotment Date | 26 February 2026 |
| Listing Date | 2 March 2026 |
| Price Band | ₹1000 – ₹1053 per share |
| Face Value | ₹10 per share |
| Lot Size | 14 shares |
| Min. Investment (Retail) | ₹14,742 |
| Issue Size | ₹3100 Crores |
| Fresh Issue | ₹2100 Crores |
| Offer for Sale (OFS) | ₹1000 Crores |
| Listing Exchange | NSE, BSE |
| IPO Type | Mainboard IPO (NSE + BSE) |
| Issue Type | Book Built |
| Registrar | MUFG Intime India Pvt Ltd |
| Lead Manager(s) | Axis Capital Ltd, ICICI Securities Ltd, JM Financial Ltd |
| Anchor Allocation | ₹921 Crores |
| Promoter Holding (Pre-IPO) | 64.2% |
Clean Max Enviro Energy Solutions Limited — Financial Snapshot
Revenue
₹3840 Cr
Net Profit (PAT)
₹198 Cr
EPS (Diluted)
₹12.4
P/E (Post-Issue)
84.91x
ROE
8.2%
ROCE
9.8%
Market Cap
N/A
Sector
Energy
Use of IPO Proceeds
- 1Debt repayment: Rs 1,400 crore
- 2General corporate purposes
IPO Documents
⚠️ Always read the RHP before investing — it contains all material risk factors and financial disclosures.
Frequently Asked Questions — Clean Max Enviro Energy Solutions Limited IPO
When does Clean Max Enviro Energy Solutions Limited IPO open and close?
Clean Max Enviro Energy Solutions Limited IPO opens on 23 February 2026 and closes on 25 February 2026. Allotment is expected on 26 February 2026 and listing on 2 March 2026.
What is the price band and lot size of Clean Max Enviro Energy Solutions Limited IPO?
Clean Max Enviro Energy Solutions Limited IPO price band is ₹1000–₹1053 per share. Lot size is 14 shares. Minimum investment for retail investors is ₹14,742 (1 lot at cut-off price).
What is the GMP of Clean Max Enviro Energy Solutions Limited IPO today?
Clean Max Enviro Energy Solutions Limited IPO GMP (Grey Market Premium) today is ₹-37 (+-3.51%), suggesting an estimated listing price of ₹1016. GMP is unofficial and not regulated by SEBI — use it as a sentiment indicator only.
How to check Clean Max Enviro Energy Solutions Limited IPO allotment status?
Check Clean Max Enviro Energy Solutions Limited IPO allotment status on the registrar website — MUFG Intime India Pvt Ltd (https://in.mpms.mufg.com). You can also check on BSE (bseindia.com → Investors → Application Status) using your PAN number. Allotment is finalised on 26 February 2026.
Is Clean Max Enviro Energy Solutions Limited IPO good for investment?
IPOGenie rates Clean Max Enviro Energy Solutions Limited IPO as "Neutral" with a score of 30/100. India's largest C&I renewable energy provider. 2.54 GW operational + 2.53 GW contracted pipeline. Serves 800+ corporate clients (tech companies, facto... Always read the RHP and consult a SEBI-registered advisor before investing.
How to apply for Clean Max Enviro Energy Solutions Limited IPO?
Apply for Clean Max Enviro Energy Solutions Limited IPO through: (1) UPI method — use any broker app (Zerodha, Groww, Upstox) and approve the UPI mandate. (2) ASBA — through your bank's net banking IPO section. Apply at cut-off price for best allotment odds. Maximum retail application is ₹2 lakh (13 lots).
What is the issue size of Clean Max Enviro Energy Solutions Limited IPO?
Clean Max Enviro Energy Solutions Limited IPO total issue size is ₹3100 Cr. Fresh issue is ₹2100 Cr and Offer for Sale (OFS) is ₹1000 Cr. Anchor investor allocation was ₹921 Cr.