Clean Max Enviro Energy Solutions Files DRHP To Raise Rs 5,200 Crore Through IPO
The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 300 crore as pre-IPO placement.
Clean Max Enviro Energy Solutions Ltd. filed its preliminary papers with the capital markets regulator SEBI on Monday to raise funds via an initial public offering.
The public offer will include a mix of fresh issue of shares worth Rs 1,500 crore and an offer for sale up to Rs 3,700 crore by promoter selling shareholders.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 300 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
Kuldeep Jain, BGTF One Holdings Ltd. and KEMPINC LLP are the promoters of the company offloading shares in the offer for sale. The other investors that will be offloading shares are Augment India I Holdings and DSDG Holding APS.
Axis Capital Ltd., J.P. Morgan India Pvt., BNP Paribas, HSBC Securities and Capital Markets Pvt., IIFL Capital Services Ltd., Nuvama Financial Advisory and Securities Pvt., BOB Capital Markets Ltd. and SBI Capital Markets Ltd. are the book-running lead managers for the issue and MUFG Intime India Pvt. will be the registrar of the issue.
Proceeds from the fresh issue worth Rs 1,125 crore will be used for repayment of debts. The remaining funds will be used for the general corporate purposes.
The Mumbai-based company is focused on offering net zero and decarbonisation solutions for the commercial and industrial sectors. The company has the largest customer base among C&I renewable energy providers with 531 clients and 1,127 signed PPAs.
The company as of July 31, had an operational capacity of 2.54 GW and a contracted capacity of 2.53 GW.
Clean Max Enviro Energy Solutions' revenue from operations increased by 13% from Rs 1,425.31 crore in fiscal 2024 to Rs 1,610.34 crore in fiscal 2025. The company posted profit for the year at Rs 27.84 crore, while it has posted a loss of Rs 30.99 crore in financial year 2024.
