Leading commercial and industrial renewable energy provider Clean Max Enviro Energy Solutions Ltd., and cotton yarn manufacturer Shree Ram Twistex Ltd. will conclude their initial public offerings on Wednesday, Feb. 25. Grey market traders are focusing their attention on the two mainboard IPOs, as the subscription for these two IPO enters its final few hours.
Both the IPOs remained under-subscribed on the second day of bidding on Feb. 24. The Clean Max Enviro Energy Solutions IPO has been subscribed 0.5 times, while the Shree Ram Twistex IPO was fully subscribed on its final day with an overall subscription of 6.08 times, as per the latest BSE data.
Here's what the latest grey market trends suggest for the two mainboard issues.
Clean Max Enviro Energy Solutions IPO GMP Today
As per the latest grey market premium (GMP), the unlisted shares of Clean Max Enviro Energy Solutions IPO are trading at a discount of Rs 3 per share on Feb. 25, according to InvestorGain. The GMP indicates a listing price of Rs 1,050 as compared to the upper limit of the issue price of Rs 1,053 apiece.
[Note: GMP does not represent official data and is based on speculation.]
ALSO READ: Clean Max Enviro IPO GMP Declines - What Investors Should Know?
Clean Max Enviro Energy Solutions aims to raise Rs 3,100 crore through its IPO. The book-building issue comprises a fresh issue of 1.13 crore shares, aggregating to Rs 1,200 crore, and an offer-for-sale (OFS) of 1.8 crore shares, worth Rs 1,900 crore.
The IPO price band has been set at Rs 1,000 and Rs 1,053 per share. The lot size for the IPO comprises 14 shares. Retail investors need to apply for at least one lot, with a minimum investment of Rs 14,742 per application.
Clean Max Enviro is a provider of renewable energy solutions for commercial and industrial clients. By the end of July 2025, the company's portfolio comprised 2.54 GW of operational assets, with an additional 2.53 GW under development or backed by long-term contractual commitments.
Shree Ram Twistex IPO GMP Today
The GMP for the Shree Ram Twistex IPO stood at Rs 16.5 per share on Feb. 25, according to InvestorGain. The latest GMP indicates an estimated listing price of Rs 120.5 per share at a premium of 15.87% over the upper limit of the issue price of Rs 104.
[Note: GMP does not represent official data and is based on speculation.]
ALSO READ: Shree Ram Twistex IPO GMP Soars - What Investors Should Know?
The Shree Ram Twistex IPO is a book-building issue worth Rs 110.24 crore. The IPO comprises a fresh issue of 1.06 crore shares, with no offer-for-sale (OFS) component. The IPO price band has been set at Rs 95 to Rs 104 per share.
Retail investors should apply for at least a single lot size of 144 shares. The minimum bid amount for retail investors is Rs 14,976 per application. Interactive Financial Services Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Also Read: 100 IPO-Ready Firms: Tata Electronics Leads Revenue Growth, Zerodha Tops Profit Margin
Key IPO Dates
The two IPOs will remain open for subscription till February 25. The companies are scheduled to finalise share allotment for their IPOs on February 26.
Clean Max Enviro Energy Solutions and Shree Ram Twistex are scheduled to process refunds and transfer of shares to the demat accounts on Feb. 27.
Shares of the two companies are tentatively scheduled to be listed on the NSE and BSE on March 2.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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