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Debt reduction and green expansion drive IPO plans

CleanMax Files for ₹5,200 Crore IPO to Power Renewable Energy Growth.                                                                                                                                               

CleanMax Enviro Energy Solutions, a leading commercial and industrial (C&I) renewable energy provider, has filed draft papers with SEBI for a ₹5,200 crore Initial Public Offering (IPO). The issue comprises a fresh share sale of ₹1,500 crore and an Offer for Sale (OFS) of ₹3,700 crore by promoters and investors, including BGTF One Holdings, Augment India I Holdings, and others. Proceeds from the fresh issue, about ₹1,125 crore, will be used to repay debt, with the rest allocated for general corporate purposes. Founded in 2010, CleanMax offers net-zero solutions, including solar, wind, hybrid power, and carbon credit services. With 2.54 GW operational, 2.53 GW contracted, and 5.07 GW under development, the company serves top clients like Amazon, Google, Apple, and Cisco. It reported FY25 revenues of ₹1,610.34 crore and a net profit of ₹27.84 crore. Axis Capital, JP Morgan, BNP Paribas, HSBC, and others are managing the IPO.