Clean Max Enviro Energy Solutions IPO
Open Date
23 Feb 2026
Close Date
25 Feb 2026
Open Date
23 Feb 2026
Close Date
25 Feb 2026
Min Investment
Lot Size
Issue Size
Price Range
Subscribed

Founded In
2010
CEO
Pramod Deore
Financials of Clean Max Enviro Energy Solutions IPO
| Key Performance Indicators | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Operating Revenue | 929.58 | 1,389.84 | 1,495.70 |
| Other Income | 31.40 | 35.47 | 114.64 |
Total Income | 960.98 | 1,425.31 | 1,610.34 |
Total Expenses | 555.06 | 683.74 | 595.27 |
| Profit Before Tax | -16.16 | 6.20 | 59.75 |
Total Profit | -59.47 | -37.64 | 19.43 |
All figures are in crores (₹)

Utilisation of Proceeds
All figures are in crores (₹)
| Purpose | Amount |
|---|---|
| The company proposes to utilize funds for repayment and/or pre-payment, in part or full, of all or certain outstanding borrowings of the company and/or certain of its subsidiaries to reduce outstanding indebtedness, maintain favorable debt-equity ratio and reduce debt servicing costs. | 1,123 |
| The company proposes to deploy funds towards general corporate purposes including payment of project costs, funding growth opportunities, strategic initiatives, partnerships, joint ventures, acquisitions, business development initiatives and other operational expenses in ordinary course of business. | - |

- Comprehensive Suite of Customer-Centric Capabilities Leading to C&I Market Leadership and Strong Customer Relationships: The company has robust customer-centric capabilities with 53 professionals across offices in India, UAE and Thailand managing 555 customers and 1,198 PPAs. The company offers five distinct offerings - Onsite, Offsite STU, Offsite CTU, Capex Services, and Carbon Services with the largest geographic coverage for Onsite Solar and STU-Connected farms amongst C&I renewable energy players in India as of March 31, 2025.
- C&I Market Leader with Diverse, Long-term and Recurring Customer Relationships: The company is a market leader in the C&I renewable energy sector with the largest customer base amongst C&I renewable energy players in India. The company has built a portfolio of PPAs with an average tenure of 22.85 years and average lock-in periods of 16.86 years as of September 30, 2025, with 94.72% of customers having credit rating of 'A-' or above.
- Timely and Cost-Effective Project Development, Execution and Management Capabilities: The company has in-house project development, execution and management capabilities with a 38-member land acquisition, regulatory and permitting team. The company delivered all projects commissioned for six months ended September 30, 2025 and between Fiscal 2023 and 2025 within budgeted cost, using 62.35% of lender sanctioned interest cost during construction at portfolio level over past three years.
- Efficient Capital Allocation and Risk Management: The company has Board level oversight for large-scale projects and achieved equity payback period of 3.37 years for all Offsite projects with at least 12 months of operations as of March 31, 2025. The company was rated CARE A+ Positive as of September 30, 2025 with Total outstanding borrowings of ₹102,611.28 million from 25 domestic banks, foreign banks, non-banking financial corporations and multilateral financiers.
- Strong People and Culture Foundation: The company focuses on hiring and developing talent with Business Leadership having average tenure of 8.00 years and top 20% of employees having 4.10 years average tenure as of September 30, 2025. The company offers equity-based incentives with Business Leadership having average annual ESOP vesting-to-annual salary ratio of 222.43% in Fiscal 2025.

