CleanMax Eyes ₹3,100 Crore in IPO Amid Renewable Energy Push
CleanMax, a leading commercial and industrial renewable energy provider, is set to launch its IPO aiming to raise ₹3,100 crore.
* The IPO includes a fresh issue of ₹1,200 crore and an offer-for-sale of ₹1,900 crore.
* Price band is ₹1,000-1,053 per share, valuing the company at ₹11,882 crore.
* ₹1,123 crore of the proceeds will be used to reduce existing borrowings, which stood at ₹10,121 crore as of September 2025.
The company aims to capitalize on the rising demand for green energy, particularly from data centers, offering solar, wind, and hybrid solutions. While deleveraging is a key focus, successful operational execution remains critical.
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