Mumbai: Mumbai-based Clean Max Enviro Energy Solutions has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI). According to sources, the company’s
Rs 5,200 crore IPO is likely to open in the third week of December 2025. Clean Max had already received final SEBI approval for its draft prospectus on November 10, 2025.
Offer Structure and Fund Use
The IPO consists of a Rs 1,500 crore fresh issue and an Rs 3,700 crore offer-for-sale (OFS) by promoters Kuldeep Jain, BGTF One Holdings (DIFC) Limited, KEMPINC LLP, and investors Augment India I Holdings and DSDG Holding. From the fresh issue, Rs 1,125 crore will be used to repay or prepay outstanding borrowings, while the remaining funds will go toward general corporate needs.
India’s Largest C&I Renewable Energy Provider
According to a CRISIL report, Clean Max is India’s largest commercial and industrial (C&I) renewable energy provider as of March 31, 2025. It has 2.54 GW of operational, owned, and managed renewable capacity and an additional 2.53 GW of contracted capacity awaiting execution as of July 31, 2025.
Strong Expertise in Net Zero Solutions
With almost 15 years of experience, the company focuses on net-zero and decarbonization solutions. It supplies renewable power and provides energy services and carbon credit solutions to clients across sectors such as data centres, AI and technology, industrial manufacturing, steel, cement, pharma, FMCG, real estate, infrastructure, and global capability centres.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Readers should conduct their own research or consult financial professionals before making any investment decisions.
