CleanMax Enviro Energy Solutions, one of India’s largest commercial and industrial (C&I) renewable power producers, is set to open its highly anticipated initial public offering (IPO) on February 23, 2026. The offering — sized at ₹3,100 crore — will be open for subscription until February 25 and represents a significant milestone for the clean energy sector’s capital markets.
The IPO has been structured with both a fresh issue and an offer-for-sale component. Approximately ₹1,200 crore will be raised through a fresh issue of shares, while promoters and early investors will offload around ₹1,900 crore through an offer-for-sale. The price band has been set at ₹1,000–₹1,053 per equity share, offering retail, institutional, and high-net-worth investors an entrée into India’s rapidly expanding renewable power landscape.
CleanMax has built a diversified portfolio of utility-scale and rooftop solar assets, with a strong presence in the commercial and industrial segment, where demand for green power continues to escalate. The company has also increasingly integrated energy storage and hybrid solutions into its project mix, positioning itself strategically in the evolving renewables value chain.
Proceeds from the IPO are expected to support strategic growth initiatives, part-fund capital expenditure, and strengthen the balance sheet by retiring existing debt. Anchor investor bids were invited prior to the public offer, indicating strong institutional interest ahead of the main subscription window.
With its listing planned on both the BSE and NSE, CleanMax’s public debut will provide a critical valuation benchmark for renewable developers in India and could catalyse further capital inflows into the sector.
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