Clean Max Enviro IPO: GMP Signals Weak Demand As Street Expects Discounted Listing

Clean Max Enviro Energy Solutions Ltd., which launched its initial public offering (IPO) on Feb 23, will close for subscription on Feb 25. The IPO aims to raise over Rs 3,000 crore from the primary market. Clean Max Enviro Energy Solutions is a leading provider of commercial and industrial renewable energy. The mainboard IPO was subscribed 0.45 times on Tuesday. As the subscription for the IPO enters its final day, the grey market premium (GMP) suggests a discount to the listing price for Clean Max Enviro shares. Here's all you need to know about the Clean Max Enviro Energy Solutions IPO, including its latest GMP, price band, issue details, important dates and more. Clean Max Enviro Energy Solutions IPO GMP Today According to InvestorGain, the GMP for the Clean Max Enviro Energy Solutions IPO stood at Rs -3 on Feb. 25. This means that the unlisted shares of the company were trading at Rs 1050 against the upper limit of the IPO price band of Rs 1,053 apiece. Note: GMP does not represent official data and is based on speculation. Clean Max Enviro Energy Solutions IPO: Total Subscription, Price Band, Issue Details And More The Clean Max Enviro Energy Solutions IPO is a book-building issue of Rs 3,100 crore. It comprises a fresh issue of 1.14 crore shares worth Rs 1,200 crore and an offer-for-sale (OFS) of 1.8 crore shares amounting to Rs 1,900 crore. The price band for the IPO has been set between Rs 1,000 and Rs 1,053 per share. On day 2 of subscription, investors bid for 97,59,232 shares against the 2,18,23,329 on offer. Qualified Institutional Investors led the subscription by subscribing 1.21 times their allotted quota of shares. To participate in the IPO, retail investors need to bid for a single lot size of 14 shares, requiring an investment of Rs 14,742. Small Non-Institutional Investors (NIIs) need to bid for 14 lots, amounting to an investment of Rs 2,06,388. Big NIIs can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,02,456. Axis Capital Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue. Clean Max Enviro Energy Solutions IPO: Allotment And Listing Date The share allotment status for Clean Max Enviro IPO is expected to be finalised on Feb. 26. Refunds to non-allottees will be processed on the same day. The company will transfer shares to the demat accounts of successful bidders on Feb. 27. Shares of Clean Max Enviro Energy Solutions will list on the BSE and NSE on Monday, March 2. Clean Max Enviro Energy Solutions IPO: Use Of Proceeds The company will use proceeds from the IPO to clear debt and for general corporate purposes. About Clean Max Enviro Energy Solutions Business Clean Max Enviro is a leading provider of renewable energy solutions for commercial and industrial clients. By the end of July 2025, the company had a portfolio of 2.54 GW in operational assets, with an additional 2.53 GW under development or backed by long-term contractual commitments. Financials The company reported a 191.4% year-on-year (YoY) jump in net profit to Rs 19 crore in H1FY26 from Rs 6.52 crore in H1FY25. Total income rose 37.3% YoY to Rs 969.35 crore in H1FY26 from Rs 705.85 crore in H1FY25. Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.