Mumbai: Clean Max Enviro Energy Solutions Ltd, a major company in India’s commercial and industrial renewable energy space, is preparing to launch its much-awaited Rs 5,200 crore initial public offering (IPO) in November.
According to sources close to the matter, Clean Max has already started investor roadshows and is planning to go public once it receives the necessary regulatory approvals.
Fresh Issue and Offer for Sale
The IPO will include a fresh issue of Rs 1,500 crore and an offer for sale (OFS) of Rs 3,700 crore. In the OFS, some of the existing investors, including US-based Augment Infrastructure Partners, will sell part of their stake.
As per the company’s draft papers filed in August, Brookfield owns 42.9 percent of Clean Max, while Augment Infrastructure holds about 20 percent. The IPO proceeds will mainly be used to repay loans and take care of general corporate expenses.
Financials and Capacity
In the financial year ending March 31, Clean Max reported a revenue of Rs 1,610 crore and a net income of Rs 19.4 crore. The company has an operational, owned, and managed capacity of 2.54 gigawatts (GW) and an additional 2.53 GW of contracted capacity that will soon become operational.
This strong capacity base positions Clean Max well to meet the growing demand for clean energy in India, making it an attractive option for investors.
Top Global Banks Managing the IPO
The Clean Max IPO is being handled by a team of reputed global and Indian banks. These include JPMorgan Chase, BNP Paribas, HSBC, Nomura, and India’s Axis Bank. The involvement of such big names has raised expectations that the IPO will attract strong interest from both domestic and international investors.
Green Energy Gaining Momentum
India’s renewable energy market is expanding rapidly, backed by government support for green energy projects. Clean Max’s IPO is expected to be one of the most talked-about offerings in the sector this year.
With a strong capacity pipeline, credible investors like Brookfield, and a clear growth strategy, Clean Max is positioning itself as a major player in India’s clean energy future.
