Clean Max Enviro Energy Solutions IPO will open on February 23, 2026 (Monday) and will close on February 25, 2026 (Wednesday). Incorporated in 2010, Clean Max Enviro Energy Solutions Limited is India’s leading renewable energy player that provides solar and wind power to the commercial and industrial sectors. As of October 31, 2025, the company has an operational capacity of 2.80 GW and also has a contracted capacity of 3.17 GW, which is yet to be executed. In this blog, we’ve covered the 10 key details of the Clean Max Enviro Energy Solutions IPO​, including IPO dates, minimum investment, valuation, financial performance, peers, and risk factors.

#1. Clean Max Enviro Energy Solutions IPO​ Date

The key pointers for the Clean Max Enviro Energy Solutions IPO dates are:

• #Bidding Opening Date: February 23, 2026
• #Bidding Closing Date: February 25, 2026
• #Allotment Date: February 26, 2026
• #Initiation of Refunds (in case of less or no allotment): February 26, 2026
• #Shares Credited to Your Demat Account: February 27, 2026
• #IPO Listing Date: March 2, 2026
• #Listing on Exchange: BSE and NSE

#2. Clean Max Enviro Energy Solutions IPO​ Price Band and Issue Size

Clean Max Enviro Energy Solutions IPO valuation, as denoted by the market capitalisation, stood at ₹12,325 crores. Here are the essential details:

• #Clean Max Enviro Energy Solutions IPO Price Band: ₹1,000 to ₹1,053 per share
• #Lot Size: 14 Shares
• #Face Value: ₹1 per share
• #Total Issue Size and Amount: 2.94 crore shares (aggregating up to ₹3,100 crores)
• #Fresh Issue Size and Amount: 1.14 crore shares (aggregating up to ₹1,200 crores)
• #Offer for Sale and Amount: 1.80 crore shares (aggregating up to ₹1,900 crores)

#3. Clean Max Enviro Energy Solutions IPO​ Proceeds Usage

The fresh issue of ₹1,200 crores will be utilised towards various purposes:

• ₹1,122.67 crores will be used for repayment or pre-payment of loans taken by the company and its subsidiaries.
• The remaining amount will be used for general corporate purposes.

The offer for sale component of ₹1,900 crores will directly go to the selling shareholders. They are Kuldeep Jain, BGTF One Holdings (DIFC) Limited, Kempinc LLP, Augment India I Holdings, LLC, and DSDG Holding APS.

#4. Clean Max Enviro Energy Solutions IPO​ Reservations and Minimum Investment

Clean Max Enviro Energy Solutions IPO​ reservation to retail investors is 35% of the offer. For QIBs, it is 50% of the offer, and for NIIs, it is 15% of the offer. There is no mention of Clean Max Enviro Energy Solutions IPO shareholder quota​ in the RHP. Clean Max Enviro Energy Solutions IPO​ lot size is 14 shares, wherein bidding can be done in multiples. The minimum amount that every category of investor needs to apply is:

#5. Clean Max Enviro Energy Solutions IPO​ Expected Listing Gain

Clean Max Enviro Energy Solutions IPO GMP is ₹7 as of February 19, 2026 (at 15:01). It is expected to list with only a marginal upside of 0.66% at ₹1,060. However, GMP is not a safe or assured criterion to bid for an IPO.

#6. Clean Max Enviro Energy Solutions Limited: Company Overview

Clean Max Enviro Energy Solutions Limited operates across two main segments: Renewable Energy Power Sales and Renewable Energy Services. In the first segment, the company sells renewable energy through long-term agreements to corporates. In the second segment, the company offers capex services and installs and manages on-site solar plants within the customer’s premises. As of September 2025, the company earns 77.09% of the revenue from the renewable energy power sales segment, while the remaining 21.97% comes from the renewable energy services segment. Its key technology customers include Amazon, Apple, CISCO, Google, while conventional customers include Apar Industries, Bajaj Auto, Grasim Industries, etc. The company’s competitive strengths are customer-centric offerings, cost-efficient project execution, a wide geographical footprint across India, Dubai, and Thailand, and deep sectoral presence across data centres, AI, FMCG, and pharmaceuticals.

#7. Clean Max Enviro Energy Solutions IPO​: Financial Performance

In FY25, Clean Max Enviro Energy Solutions Limited’s total income rose by 13% year-on-year to ₹1,610 crores. The company made a turnaround from a loss of ₹38 crores in FY24 to a profit of ₹19 crores in FY25. In the financial year 2024-25, EBITDA stood at ₹1,015 crores, up 37% YoY from ₹742 crores in FY24. The assets increased by 46% YoY to ₹13,279 crores, while borrowings also rose by 45% to ₹7,974 crores in FY25.

#8. Clean Max Enviro Energy Solutions IPO​: Peer Analysis

Clean Max Enviro Energy Solutions Limited’s pre-IPO price-to-earnings (PE) ratio is 634.34, which means that this IPO is coming at a very high valuation. On the other hand, the average PE ratio of this industry is 86.59. Clean Max Enviro Energy Solutions has an EPS of ₹2.88 in FY25. This is lower than peers like ACME Solar Holdings (₹4.55) and Adani Green Energy (₹8.37) but is marginally above NTPC Green Energy’s EPS of ₹0.67. The return on net worth of Clean Max Enviro Energy Solutions is 1.09% and is lower than that of ACME Solar Holdings (5.59%) and Adani Green Energy (13.48%) but higher than NTPC Green Energy’s RoNW of 2.58%.

#9. Clean Max Enviro Energy Solutions IPO Risk Factors

• The company had made losses in the past financial years and turned profitable in FY25. If it is not able to effectively manage its costs or generate sufficient revenue in the future, then its profitability can be questioned.
• The top 10 customers drive around 35% of the revenue, and any failure to keep up the partnerships with them can directly affect the business.
• The fresh issue component will be utilised mainly for loan repayment, and hence no money will be allocated for business expansion or growth purposes.

#10. How to Apply for Clean Max Enviro Energy Solutions IPO Online?

For all the insights on Clean Max Enviro Energy Solutions IPO​ and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for this IPO easily on the SMC ACE App by opening free demat account now. Conclusion Clean Max Enviro Energy Solutions is India’s largest renewable energy provider that caters to commercial and industrial players. Though the company has tapped into the new-age sectors like AI and data centres, it has turned profitable only in the last financial year. This IPO is coming at an extremely high valuation, which remains a key risk to watch before bidding.