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Renewable energy player CleanMax raises Rs.2,500-Cr via green bonds

BSE Announcement   Business Line   CleanMax  

Mumbai-based CleanMax has raised INR 2,500 crore through the issuance of green debt securities in the form of non-convertible debentures (NCDs) on a private placement basis. The transaction attracted participation from international and domestic institutional investors, including the International Finance Corporation (IFC), the National Bank for Financing Infrastructure and Development, and the India Infrastructure Finance Company. Other participants included Aditya Birla Capital, IDFC First Bank, and Nippon India Mutual Fund. Trust Investment Advisors acted as the sole arranger, while Cyril Amarchand Mangaldas served as the legal counsel. Catalyst Trusteeship acted as the debenture trustee.The NCDs were issued under the firm’s green bond framework, which covers a fixed rate structure across five series with maturities ranging from 2 to 10 years.Founded in 2011 by Kuldeep Jain, CleanMax provides renewable energy solutions for the commercial and industrial sector.CleanMax plans to allocate the proceeds from this issuance toward financing large-scale renewable energy projects.

Between May 2011 and Feb 2026, Clean Max Enviro Energy Solutions had attracted about USD 972.46 M from Bessemer, IFC, Warburg Pincus, UK Climate Investments, Augment Infrastructure, Impact Fund Denmark, Brookfield, MGA Ventures, 360 ONE, Bain Capital, Steadview Capital, Temasek and others.For FY26, Clean Max Enviro Energy Solutions had reported about INR 6,003 Cr in Operating Income and about INR 767 Cr in PAT.