New Delhi, February 25 The initial public offer of Clean Max Enviro Energy Solutions Ltd, a provider of commercial and industrial renewable energy, received 94 per cent subscription on the last day of the share sale on Wednesday.
The Rs 3,100-crore IPO received bids for 2,05,69,556 shares against 2,18,23,329 shares on offer, according to details available with the NSE.
The portion for Qualified Institutional Buyers (QIBs) received 2.83 times the subscription. The category for non-institutional investors mopped up 54 per cent subscription, while that of Retail Individual Investors (RIIs) received 6 per cent subscription.
Clean Max Enviro Energy Solutions raised Rs 921 crore from anchor investors last Friday.
The company has fixed a price band of Rs 1,000-1,053 per share, valuing it at Rs 12,325 crore at the upper end.
The IPO includes a fresh issue of shares worth up to Rs 1,200 crore and an offer-for-sale (OFS) of shares valued at Rs 1,900 crore by promoters and a shareholder.
The IPO size has been reduced from Rs 5,200 crore planned earlier, according to the preliminary papers filed in August 2025.
CleanMax will make its stock market debut on March 2.
Founded in 2010, CleanMax specializes in net-zero emissions and decarbonization solutions for commercial and industrial customers. Its offerings include renewable power supply – wind, solar, hybrid – energy services, and carbon credit solutions.
