Liquidity Events
CleanMax Enviro Energy’s Rs.3,100-Cr IPO subscribed 92%
Mumbai-based CleanMax Enviro Energy Solutions ’ INR 3,100 crore initial public offering (IPO) achieved a 92% subscription against a total offer of 2.18 crore shares. Qualified Institutional Buyers (QIB) subscribed 2.77 times their allocated quota, while Retail Individual Investors (RIIs) subscribed 6%, and Non-Institutional Investors (NIIs) subscribed 54%.Established in 2010, CleanMax is a renewable energy solutions provider for the commercial and industrial segments. As of October 2025, it operates 2.80 GW of owned capacity and has an additional 3.17 GW of contracted projects under execution, offering solar, wind, and hybrid energy solutions. The company reported a revenue increase to INR 1,610 crore in FY25 from INR 1,425 crore in FY24, with a net profit of INR 19.43 crore in FY25, a turnaround from a loss in FY24.
Between May 2011 and Feb 2026, CleanMax Enviro Energy had attracted about USD 973 M from Bessemer, IFC, Warburg Pincus, UK Climate Investments, Augment Infrastructure, IFU, Brookfield, MGA Ventures, 360 ONE and others.For FY25, CleanMax Enviro Energy had reported about INR 2,270 Cr in Operating Income and about INR 298 Cr in PAT.
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