Clean Max Envior Energy Solutions IPO Day 1: Subscription at 0.03x, GMP Rises 0.28% | Live Updates

Posted by : Neeraj Pandey | Mon Feb 23 2026

The Clean Max Envior Energy Solutions IPO GMP is ₹3 as of 23rd February 2026. It is a book-building issue IPO of ₹3,100.00 crores. This is an entirely fresh issue of 1.14 crore shares. The issue will be listed on BSE and NSE on its tentative listing date, 2nd March 2026. The face value of Clean Max Envior Energy Solutions IPO shares is ₹1 per share, and the IPO price band is ₹1,000 to ₹1,053 per share. Retail investors can bid for a minimum of 1 lots of 14 shares worth ₹14,742. Scroll down to check the Clean Max Envior Energy Solutions IPO GMP and subscription details.

Table of Contents

Clean Max Envior Energy Solutions IPO GMP Grey Market Premium

As mentioned earlier, the Clean Max Envior Energy Solutions IPO GMP currently stands at ₹3.00 per share. Thus, the estimated listing price would be at ₹1,056.00. This indicates that the estimated listing gain in this IPO could be 0.28%. Explore the table for Clean Max Envior Energy Solutions IPO GMP updates.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
23-2-2026	₹1,053.00	₹3.00	₹1,056.00	0.28%
22-2-2026	₹1,053.00	₹4.00	₹1,057.00	0.38%
21-2-2026	₹1,053.00	₹4.00	₹1,057.00	0.38%
20-2-2026	₹1,053.00	₹3.00	₹1,056.00	0.28%
19-2-2026	₹1,053.00	₹3.00	₹1,056.00	0.28%
18-2-2026	₹1,053.00	₹9.00	₹1,062.00	0.85%
17-2-2026	₹1,053.00	₹14.00	₹1,067.00	1.33%
16-2-2026	₹1,053.00	₹0.00	₹1,053.00	0.00%
15-2-2026	₹1,053.00	₹0.00	₹1,053.00	0.00%
14-2-2026	₹1,053.00	₹0.00	₹1,053.00	0.00%
13-2-2026	₹1,053.00	₹0.00	₹1,053.00	0.00%

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Clean Max Envior Energy Solutions IPO GMP status at Univest.

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Clean Max Envior Energy Solutions IPO Subscription Status

As of now, the Clean Max Envior Energy Solutions IPO has been subscribed to 0.03 times. Of these, 0.01 times are subscribed by retail investors, 0.00 times by non-institutional investors, and 0.09 times by QII (Qualified Institutional Investors).

The healthy subscription status indicates that investors are expecting higher returns at the time of Clean Max Envior Energy Solutions’ IPO listing on 2nd March 2026. Clean Max Envior Energy Solutions also has a positive outlook behind the fresh issue of 1.14 crore shares, which will raise around Rs 3,100.00 crores.

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Clean Max Envior Energy Solutions IPO Subscription status at Univest.

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Clean Max Envior Energy Solutions IPO Details

IPO Allotment Date	26th February 2026
IPO Open Date	23rd January 2026
IPO Close Date	25th February 2026
Refund Initiation	27th February 2026
Issue Size	2,94,39,695 shares(agg. up to ₹3,100 Cr)
Fresh Issue	1,13,96,011 shares(agg. up to ₹1,200 Cr)
Offer for Sale	1,80,43,684 shares of ₹1(agg. up to ₹1,900 Cr)
Face Value	₹1 per share
Lot Size	14 Shares
Issue Price	₹1,000 to ₹1,053 per share
Issue Type	Bookbuilding IPO
Listing At	BSE NSE
Listing Date	2nd March 2026

Also Read: Clean Max Envior Energy Solutions IPO GMP & Review: Apply or Avoid?

Explanation

Clean Max Envior Energy Solutions IPO: Clean Max Envior Energy Solutions IPO Limited has declared an issue price band of ₹1,000 to ₹1,053 per share. With this IPO, the company allows retail investors to bid for at least 1 lots of 14 shares, each worth ₹14,742. The face value of Clean Max Envior Energy Solutions IPO Limited shares is ₹1 per share. The shares of Clean Max Envior Energy Solutions IPO Limited will be listed on BSE and NSE on its tentative listing day, 2nd March 2026. Scroll down to check GMP updates and Clean Max Envior Energy Solutions IPO reviews.

About Clean Max Envior Energy Solutions Ltd.

Clean Max Enviro is the largest commercial and industrial (“C&I”) renewable energy player in India as of March 31, 2025, according to the CRISIL Report. As of July 31, 2025, we have 2.54 GW of operational, owned, and managed capacity and an additional 2.53 GW of contracted capacity under execution. Its primary business activities are the provision of renewable energy, energy services, and carbon credit services. We have a wide range of customers, including Technology customers and traditional C&I customers. The key strengths of the company are Energy contracting, Engineering, procurement, and construction (EPC), and Operation and maintenance (O&M) of renewable energy power plants (solar, wind, and hybrid).

Clean Max Envior Energy Solutions Limited Financials

The company’s financial analysis is essential before applying for the Clean Max Envior Energy Solutions IPO. See the table for Clean Max Envior Energy Solutions Limited’s financials.

Year Ended	30th Sep 2025 (in cr.)	31st March 2025 (in cr.)	31st March 2024 (in cr.)	31st March 2023 (in cr.)
Assets	16,945.65	13,279.25	9,076.55	7,000.14
Revenue	969.35	1,610.34	1,425.31	960.98
Profit After Tax	19.00	19.43	-37.64	-59.47
EBITDA	637.85	19.43	741.57	405.92
Net Worth	2,598.34	2,545.44	1,817.96	1,209.93
Reserves and Surplus	–	–	–	–
Total Borrowings	10,121.46	7,973.70	5,514.56	3,843.42

Explanation

Clear Max Envior Energy Solutions Limited’s revenue increased by 12.98% from ₹1,425.31 crores in March 2024 to ₹1,610.34 crores in March 2025. Moreover, the company’s PAT increased by 151.62% from -₹37.64 crores in March 2024 to ₹19.43 crores in March 2025.

Clean Max Envior Energy Solutions IPO Objectives

The primary aim of the Clear Max Envior Energy Solutions IPO is to raise ₹3,100.00 crores. On the other hand, Fractal Analytics has decided to utilise these funds in different ways.

To the repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of the Company and/or certain of the Subsidiaries
To General Corporate Purposes

Clean Max Envior Energy Solutions IPO Registrar

MUFG Intime India Private Limited is the registrar for the Clear Max Envior Energy Solutions IPO, awaiting the allotment process and initiating refunds. For any queries regarding the Clear Max Envior Energy Solutions allotment and refund, you can contact MUFG Intime India Private Limited at cleanmax.ipo@in.mpms.mufg.com or at +91-22-4918 6270.

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Clean Max Envior Energy Solutions IPO Review

The Clean Max Envior Energy Solutions IPO has gained neutral ratings from industry experts, brokers, and institutional investors. Clear Max Envior Energy Solutions Limited’s revenue increased by 12.98% from ₹1,425.31 crores in March 2024 to ₹1,610.34 crores in March 2025. Moreover, the company’s PAT increased by 151.62% from -₹37.64 crores in March 2024 to ₹19.43 crores in March 2025. Most analysts recommend applying for this IPO to diversify your investment portfolio. However, we’re waiting for additional ratings to get a clearer picture and will keep posting them to deliver real-time insights. Until then, you can explore the company’s technical analysis to know whether you should apply for the Clean Max Envior Energy Solutions IPO or not.

Key Indicators	Value
PE Ratio (Price-to-Earnings)	634.34
EPS (Earnings Per Share)	1.84
RoNW	0.43%
ROCE	–
ROE	0.43%
EBITDA Margin	–
Price to Book Value	4.11
Market Capitalisation	₹12,325.29 Cr

The P/E ratio of Clear Max Envior Energy Solutions Limited shares is 634.34, and its Earnings Per Share (EPS) stands at 1.84. Thus, the Clear Max Envior Energy Solutions IPO can deliver gains on its tentative listing date, 2nd March 2026.

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Clear Max Envior Energy Solutions Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics.

Indicators	Pre-IPO	Post-IPO
PE Ratio	634.34	324.28
EPS	1.84	3.25

FAQs on Clean Max Envior Energy Solutions IPO

What is the Clean Max Envior Energy Solutions IPO GMP?

Currently, on 23rd February 2026, the Clean Max Envior Energy Solutions IPO GMP (Grey Market Premium) stands at ₹3.00. This indicates that the estimated listing price could be ₹1,056.00 per share.

What is the issue price of the Clean Max Envior Energy Solutions IPO?

The Clean Max Envior Energy Solutions IPO issue price band is set at ₹1,000.00 to ₹1,053.00 per share. Retail investors can apply for a minimum of 1 lots, each consisting of 14 shares, worth ₹14,742. Moreover, HNIs are required to bid for a minimum of 14 lots (196 shares) worth ₹2,06,388.

Who is the registrar of the Clean Max Envior Energy Solutions IPO?

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Clean Max Envior Energy Solutions IPO, download the Clean Max Envior Energy Solutions IPO RHP and Clean Max Envior Energy Solutions IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.