Clean Max IPO subscribed 94% on final day of bidding - Check latest GMP

Clean Max IPO

• Clean Max IPO subscribed 94 percent on final bidding day.
• QIBs segment subscribed 2.83 times, retail at 6 percent.
• Shares to debut on stock market on March 2.

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The initial public offering of Clean Max Enviro Energy Solutions saw 94 percent subscription on the final day of bidding on Wednesday.

According to data available with the NSE, the IPO received bids for over 2 crore shares against more than 2.18 crore shares on offer.

The portion for qualified institutional buyers (QIBs) was subscribed 2.83 times, while the non-institutional investors’ category was booked 54 per cent. The retail individual investors’ segment received 6 per cent subscription.

The company had raised Rs 921 crore from anchor investors on Friday.

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The price band for the issue has been fixed at Rs 1,000-1,053 per share, valuing the company at Rs 12,325 crore at the upper end of the band.

In the unofficial market, the shares were commanding a flat grey market premium (GMP).

Clean Max IPO allotment is expected by February 26, while the company is scheduled to make its stock market debut on March 2.

Founded in 2010, Clean Max Enviro Energy Solutions provides renewable energy solutions to commercial and industrial customers. Its portfolio includes wind, solar and hybrid power supply, along with energy services and carbon credit solutions.

On the financial front, revenue from operations rose 13 per cent to Rs 1,610.34 crore in FY25 from Rs 1,425.31 crore in FY24. The company reported a net profit of Rs 27.84 crore in FY25.

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