Clean Max Enviro IPO listing date tomorrow: Here’s what GMP, subscription status, hint ahead of stock market debut

Clean Max Enviro IPO listing date has been scheduled for tomorrow (Monday, February 23). Clean Max Enviro IPO allotment was finalised on Thursday, February 26. For those who have been allocated shares, the crediting of shares to demat accounts took place on Friday, February 27. The process of refunding those for those who did not receive their shares also was held on Friday, itself. Clean Max Enviro Energy Solutions, commercial and industrial renewable energy provider launched its IPO for subscription from Monday, February 23 to Wednesday, February 25. By the conclusion of the bidding period, the offering received a weak response, particularly from retail investors who subscribed just by 6%. Non-institutional investors (NIIs) portion was booked 54%, and qualified institutional buyers (QIBs) was booked 2.83 times. Notably, on the third day of the IPO, the Clean Max Enviro IPO subscription status stood at 94%, as reported by the BSE. Clean Max Enviro IPO has allocated no more than 50% of the shares in the public offering for QIB, a minimum of 15% for NII, and at least 35% of the total offer is set aside for retail investors. There is also a reserved portion of shares for employees capped at ₹300 million. Clean Max Enviro IPO price band was fixed in the range of ₹1,000 to ₹1,053 per equity share of the face value of Re 1. The Clean Max Enviro IPO lot size is 14 equity shares and in multiples of 14 equity shares thereafter. Clean Max Enviro IPO GMP today Clean Max Enviro IPO GMP is -35. Considering the upper end of the IPO price band and the current discount in the grey market, the estimated listing price of Clean Max Enviro shares is indicated as ₹1,018 apiece, which is 3.32% lower than the IPO price of ₹1,053. According to the grey market trends observed over the past 18 sessions, today's IPO GMP indicates a likelihood of a discount listing. Experts note that the lowest GMP recorded is ₹-19.00, while the highest stands at ₹14. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Clean Max Enviro IPO details The proposed offering includes a new share issue valued at up to ₹1,200 crore, along with an offer-for-sale (OFS) of ₹1,900 crore from promoters and an investor shareholder. The size of the IPO has been cut from the previously planned ₹5,200 crore, based on the initial documents submitted in August 2025. The funds raised from the new share issue of ₹1,125 crore will be allocated to debt repayment, while the remainder will be utilized for general corporate activities. The Clean Max Enviro IPO is being handled by Axis Capital, JP Morgan India, HSBC Securities and Capital Markets (India), IIFL Capital Services, Nomura Financial Advisory and Securities (India), BOB Capital Markets, and SBI Capital Markets. The registrar for the offering is MUFG Intime India Pvt. Ltd. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.