Clean Max Enviro Energy IPO: Listing Date, GMP, and What Investors Should Know
Shares of Clean Max Enviro Energy are expected to list on the BSE and NSE on March 2.
The Rs 3,100-crore Initial Public Offering (IPO) saw weak demand during its three day subscription period from Feb. 23 to Feb. 25. The issue remained undersubscribed, with an overall booking of 0.99 times.
According to the market tracking site Chittorgarh, the IPO received bids for 2,05,78,432 shares against the 2,06,93,259 shares available. While Qualified Institutional Buyers (QIBs) booked their portion 2.99 times, interest from other groups was low. Non-Institutional Investors (NIIs) subscribed 0.57 times, and the retail portion was booked only 0.07 times.
Clean Max Enviro Energy IPO: Listing Price and GMP
The Grey Market Premium (GMP) suggests that the shares might list at a discount.
As of Feb. 28 at 10:30 a.m., data from InvestorGain shows the GMP at Rs 14 below the issue price. This indicates an estimated listing price of Rs 1,039 per share a 1.33% discount from the upper price band.
Note: GMP is based on market speculation and is not official data.
Key IPO Details and Allotment Status
The Clean Max Enviro Energy IPO included a fresh issue of 1.14 crore shares (Rs 1,200 crore) and an offer for sale (OFS) of 1.80 crore shares (Rs 1,900 crore). The price band was set between Rs 1,000 and Rs 1,053 per share.
- Minimum Investment: Retail investors applied for at least one lot of 14 shares, costing Rs 14,742 at the upper price limit.
- Allotment & Refunds: The company finalized share allotments on Feb. 26 and started issuing refunds the same day.
- Demat Transfers: Successful bidders were scheduled to receive shares in their demat accounts on Feb. 27.
Axis Capital Ltd. served as the book-running lead manager, while MUFG Intime India Ltd. acted as the registrar for the issue.
About Clean Max Enviro Energy Solutions
Clean Max Enviro provides renewable energy solutions to commercial and industrial clients in India. As of July 2025, the company managed 2.54 GW of operational assets. It also has another 2.53 GW of projects currently under development or secured through long term contracts.
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