Clean Max Enviro Energy Solutions Launches Rs 3,100 Crore IPO with Limited Early Listing Gains

Clean Max Enviro Energy Solutions launched a Rs 3,100 crore IPO from February 23 to 25, comprising a Rs 1,200 crore fresh issue and Rs 1,900 crore offer for sale, priced between Rs 1,000 and Rs 1,053 per share. The company, India's largest commercial and industrial renewable energy provider, aims to use proceeds mainly for debt repayment. Early subscription data shows 3 percent overall subscription, led by institutional investors, with grey market premiums indicating limited listing gains. Analysts highlight strong growth potential amid valuation and leverage concerns, recommending the IPO for long-term investors with higher risk tolerance.