New IPO Listing: IPO Flops! First Undersubscribed, Now Listed at a 10% Discount

News Topical, Digital Desk : New IPO Listing: Clean Max Enviro Energy Solutions' Rs 3,100 crore IPO got listed on BSE and NSE on Monday, 2 March 2026. The issue received weak demand during the three-day bidding process and could not be fully subscribed. The IPO opened on 23 February and closed on 25 February. The shares (Clean Max Enviro Energy Solutions Share Price) opened at Rs 960 on NSE, which is 8.83% lower than the issue price of Rs 1,053. Whereas on BSE it got listed at Rs 952.20, which represents a discount of 9.5%.

Clean Max Enviro Energy Solutions IPO Details
Its allotment was finalized on February 26. The issue price band was fixed at Rs 1,000 to Rs 1,053 per equity share. According to NSE data, the Clean Max Enviro IPO was subscribed 94% overall. The retail investor category received 6% subscription, and the non-institutional investor category received 54% subscription. The qualified institutional buyers category was subscribed 2.83 times.

Those reducing stake include promoter Kuldeep Jain and institutional investors Brookfield's BGTF One Holdings (DIFC) and KEMPINC. Early investors Augment India I Holdings and DSDG Holding APS are also participating in the offer for sale. 

Rs 921 crore was raised on February 20 The company had raised Rs 921 crore from anchor investors on February 20. Retail investors can apply in lots of 14 shares. One lot is priced at Rs 14,742 at the upper price band. Shares worth up to Rs 30 crore have been reserved for employees and they will get a discount of Rs 100 per share. 

Clean Max Enviro Energy Solutions Business Details As of March 31, 2025, the company was the largest renewable energy solutions provider serving the commercial and industrial sector in India. As of July 31, 2025, the company had 2.54 gigawatts of operating and managed assets, while 2.53 gigawatts of capacity was under construction or contracted. In addition to energy generation, the company also provides energy optimization advisory services and carbon credit solutions for corporate clients. The company's revenue in FY2025 was ₹1,610.34 crore, a 13% increase from ₹1,425.31 crore in FY2024. 

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