Clean Max Enviro IPO
Market Sentiment
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 960.98 | 1,425.31 | 1,610.34 |
| Expense | 555.06 | 683.74 | 595.27 |
| Profit (PAT) | 59.47 | 37.64 | 19.43 |
| Total Assets | 7,000.14 | 9,076.55 | 13,279.25 |
Promoters: Kuldeep Jain, Pratap Jain, Nidhi Jain, BGTF One Holdings (DIFC) Ltd, and Kempinc LLP
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 10,14,41,820 | 74.89% |
| Promoter Holding Post Issue | 11,28,37,831 | 49.08% |
Strengths & Risks
- Strong institutional (QIB) demand — 2.8x.
- Undersubscribed — only 0.94x overall at close.
- Thin profit margin — 1.2%.
- Modest return on equity — 1%.
- Promoter stake drops to 49% after the issue.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Clean Max Enviro is one of the leading companies in terms of renewable energy providers. Furthermore, the company also has 2.54 GW of operational, owned, and managed capacity and an additional 2.53 GW of contracted capacity under execution. The company mainly offers the Renewable Energy Power Sales Segment and, Renewable Energy Services Segment. They cater to a wide range of customers, including Technology customers and conventional C&I customers. Furthermore, Efficient and affordable project development, execution, and management is the company’s strength. Clean Max Enviro Energy Solutions Ltd.’s revenue grew by 13%, and its profit after tax (PAT) jumped by 152% between FY 2024 and FY 2025.
Clean Max Enviro Energy Solutions Ltd., 4th Floor,, The International 16 Maharshi Karve Road,, New Marine Lines Cross Road No.1, Churchgate, Mumbai, Maharashtra, 400020
| Purpose | Amount (Cr) |
|---|---|
| Repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of our Company and/or certain of our Subsidiaries | 1,125.00 |
| General Corporate Purpose | - |
Resources & Documents
Clean Max Enviro has set a price band of Rs 1,000–Rs 1,053 per share. The stock listed with a 8.83% discount versus its issue price on March 02, 2026.
Clean Max Enviro is one of the leading companies in terms of renewable energy providers. Furthermore, the company also has 2.54 GW of operational, owned, and managed capacity and an additional 2.53 GW of contracted capacity under execution.
The issue is promoted by Kuldeep Jain, Pratap Jain, Nidhi Jain, BGTF One Holdings (DIFC) Ltd, and Kempinc LLP with Axis Capital Limited, J.P. Morgan India Private Limited, BNP Paribas, HSBC Securities and Capital Markets (India) Private Limited, IIFL Capital Services Limited, Nomura Financial A… acting as lead manager. Net proceeds will primarily be used towards Repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of our Company and/or certain of… (Rs 1,125 crore) and General Corporate Purpose.
On fundamentals, the company is posting revenue growth of 13.0%, a profit margin of 1.2%, return on equity of 1.1% in its most recent reported period.
On our data-signal score, the combined signals for this issue currently read very weak — several indicators are flashing concern at the same time. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Clean Max Enviro IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Clean Max Enviro GMP history and trend, or learn how grey market premium works and how reliable it is.
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