Clean Max Enviro Energy Solutions Limited
Against an issue price of ₹1,053. Split- and bonus-adjusted official closes — a past move, never a forecast.
Clean Max Enviro Energy Solutions Limited was a mainboard initial public offer.
The book was open from 23 February 2026 to 25 February 2026.
The issue was priced at ₹1,053 a share, from a band of ₹1,000 to ₹1,053.
We did not poll this issue while its book was open. The exchange publishes only the current cumulative figure and no history, so a subscription series cannot be reconstructed after an issue closes.
41 anchor investors were allotted shares before the book opened, worth ₹921 crore.
The shares listed on 2 March 2026.
The last official close on file is ₹1,341 (21 September 2026), which is 27.3% above the issue price.
It now trades as CLEANMAX, and its filed financials are on its company page.
Shares sold in the issue at ₹1,053 last closed at ₹1,340.5.
See CLEANMAX’s filed financials and price history →Official exchange closes, restated for splits, bonuses and rights issues since listing. A record of past price movement, not a forecast.
- Registrar
- MUFG Intime India Private Limited
- Lead managers
- Axis Capital Limited
- J.P. Morgan India Private Limited
- BNP Paribas
- HSBC Securities and Capital Markets (India) Private Limited
- IIFL Capital Servies Limited
- Nomura Financial Advisory and Securities (India) Private Limited
- BOB Capital Markets Limited
- SBI Capital Markets Limited
- Bidding opens23 Feb 2026
- Bidding closes25 Feb 2026
- Basis of allotmentnot published
Not published in the exchange feeds we ingest — we do not estimate it.
- Listing2 Mar 2026
We did not poll this issue while its book was open. The exchange publishes only the current cumulative figure and no history, so a subscription series cannot be reconstructed after an issue closes.
We did not poll this issue while its book was open. The exchange publishes only the current cumulative figure and no history, so a subscription series cannot be reconstructed after an issue closes.
Anchor investors are institutions allotted shares one working day before public bidding opens, at a price fixed then. Their shares are locked in for a set period. At least 10 of them are domestic mutual funds; we could not classify 29 of the names either way.
| NOMURA INDIA INVESTMENT FUND MOTHER FUND | ₹66.5 cr |
| SBI LIFE INSURANCE CO. LTD | ₹66.5 cr |
| ZULIA INVESTMENTS PTE. LTD. | ₹66.5 cr |
| PIONEER INVESTMENT FUND SCHEME II | ₹62.5 cr |
| FRANKLIN INDIA LARGE & MID CAP FUND | ₹50 cr |
| HDFC MUTUAL FUND - HDFC BUSINESS CYCLE FUNDmutual fund | ₹50 cr |
| INDIAFIRST LIFE INSURANCE CO LTD | ₹50 cr |
| PANVIRA INDIA INNOVATION FUND | ₹50 cr |
| PRUDENTIAL HONG KONG LIMITED - PHKL ASIA PACIFIC ACTIVE GROWTH EQUITY PORTFOLIO - AHAPAG - EASTSPRING GROWTH EQUITIES TEAM | ₹41.7 cr |
| ABU DHABI INVESTMENT AUTHORITY - MONSOON | ₹30 cr |
| CANARA HSBC LIFE INSURANCE CO LTD | ₹30 cr |
| MALABAR INDIA FUND LIMITED | ₹30 cr |
| SBI GENERAL INSURANCE COMPANY LIMITED | ₹25 cr |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 12 | ₹25 cr |
| EASTSPRING INVESTMENTS - ASIA OPPORTUNITIES EQUITY FUND | ₹24.8 cr |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 9 | ₹22.5 cr |
| PGIM INDIA TRUSTEES PRIVATE LIMITED A/C PGIM INDIA FLEXI CAP FUNDmutual fund | ₹18 cr |
| PGIM INDIA TRUSTEE PRIVATE LIMITED A/C - PGIM INDIA SMALL CAP FUNDmutual fund | ₹17.3 cr |
| CHANAKYA WEALTH CREATION FUND | ₹15 cr |
| SUSQUEHANNA PACIFIC PTY LTD | ₹15 cr |
| UNION FLEXI CAP FUND | ₹15 cr |
| BARODA BNP PARIBAS SMALL CAP FUND | ₹13 cr |
| BHARTI AXA LIFE INSURANCE COMPANY LTD | ₹10 cr |
| BNP PARIBAS FUNDS GLOBAL CLIMATE SOLUTIONS | ₹10 cr |
| MOON CAPITAL TRADING PTE. LTD. | ₹10 cr |
| SOCIETE GENERALE - ODI | ₹10 cr |
| TATA INVESTMENT CORPORATION LIMITED | ₹10 cr |
| VIRIDIAN ASIA OPPORTUNITIES MASTER FUND | ₹10 cr |
| MERCURY SERIES UNION MID AND SMALL CAP FUND | ₹10 cr |
| CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED | ₹10 cr |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 10 | ₹8.8 cr |
| PGIM INDIA TRUSTEES PRIVATE LIMITED A/C PGIM INDIA ELSS TAX SAVER FUNDmutual fund | ₹7.5 cr |
| TRUST MUTUAL FUND - TRUST MF SMALL CAP FUNDmutual fund | ₹7 cr |
| BARODA BNP PARIBAS ENERGY OPPORTUNITIES FUND | ₹7 cr |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 13 | ₹6.3 cr |
| TRUST MUTUAL FUND - TRUST MF FLEXI CAP FUNDmutual fund | ₹6 cr |
| ASHIKA INDIA SELECT FUND | ₹5 cr |
| PGIM INDIA TRUSTEE PRIVATE LIMITED A/C - PGIM INDIA MULTI CAP FUNDmutual fund | ₹4.1 cr |
| PGIM INDIA TRUSTEES PRIVATE LIMITED A/C PGIM INDIA AGGRESSIVE HYBRID EQUITY FUNDmutual fund | ₹2.1 cr |
| TRUST MUTUAL FUND - TRUSTMF MULTI CAP FUNDmutual fund | ₹2 cr |
| PGIM INDIA TRUSTEE PRIVATE LIMITED A/C - PGIM INDIA RETIREMENT FUNDmutual fund | ₹1 cr |
From the issuer’s anchor allotment filing. A record of who was allotted what — not a recommendation.
- Anchor investors — first trancheSEBI ICDR 2018 Reg. 32(5)(b) — 50% of the anchor allocation, 30 days from allotment1 Apr 202650% of this tranche
- Anchor investors — second trancheSEBI ICDR 2018 Reg. 32(5)(a) — the remaining 50% of the anchor allocation, 90 days from allotment31 May 202650% of this tranche
- All other pre-issue capitalSEBI ICDR 2018 Reg. 17 — all other pre-issue capital, 6 months from allotment2 Sept 2026already free
- Promoters' minimum contributionSEBI ICDR 2018 Reg. 16(1)(a) — promoters' minimum contribution, 18 months from allotment2 Sept 2027whole tranche releases on this date
Computed from the SEBI ICDR 2018 lock-in rules, not disclosed by the issuer or the exchange. The regulation counts from the date of allotment, which no feed we ingest publishes, so these are counted from the listing date and fall at most two to three business days later than the true expiry.
Every offer document must set out the reasoning behind its own price: what the company earned in the years before it came to market, and what multiple of those earnings it is asking for. This is that chapter — the issuer’s argument for its price, not our assessment of it.
| Year | Basic | Diluted | Weight |
|---|---|---|---|
| FY2023 | ₹-9.01 | ₹-9.01 | 1 |
| FY2024 | ₹-3.94 | ₹-3.94 | 2 |
| FY2025 | ₹2.88 | ₹2.79 | 3 |
Figures as printed in the offer document's "Basis for Offer Price" chapter. A record of the case the issuer made for its own price, not our valuation of it.
Everything we extracted from this issue's offer document is the pricing justification rather than the restated statements — it is shown under how the offer was priced. The restated financial statements themselves have not been extracted for this issue.
We have not extracted this section from the offer document for this issue yet. It is read from the abridged prospectus, and several offer documents are served as .zip archives or as scanned pages with no text layer.
The offer document must name the listed companies the issuer considers comparable, and print their valuation figures beside its own. This is that list — the issuer’s choice of comparison, not ours.
| Company | P/E | P/B | RoNW | EPS | Income |
|---|---|---|---|---|---|
| Acme Solar Holdings Limited | 51.1 | — | 5.6% | 4.55 | ₹14,051 cr |
| Adani Green Energy Limited | 117.3 | — | 13.5% | 8.37 | ₹1,12,120 cr |
| NTPC Green Energy Limited | 134.1 | — | 2.6% | 0.67 | ₹22,096 cr |
| ReNew Energy Global PLC$not in our universe | 47.1 | — | 3.4% | 10.92 | ₹97,513 cr |
The issuer's own figures as printed at the head of the same table — its claim about itself, on the same basis as its claims about the companies below.
Figures as PRINTED by the issuer in its own offer document. The comparison set is the issuer's choice, not ours.
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Axis Capital Limited 2021 – 2026 | 85 18 measurable | +11.7% | 4 of 14 | 1 of 5 | 2 of 8 |
BNP Paribas 2021 – 2026 | 7 0 measurable | — | — | — | 0 of 1 |
BOB Capital Markets Limited 2023 – 2026 | 6 0 measurable | — | — | — | 0 of 1 |
HSBC Securities and Capital Markets Private Limited 2023 – 2026 | 12 2 measurable | +10.8% | 1 of 2 | 0 of 1 | 0 of 1 |
IIFL Capital Servies Limited 2026 – 2026 | 1 0 measurable | — | — | — | 0 of 1 |
J. P. Morgan India Private Limited 2022 – 2026 | 23 4 measurable | +2.6% | 2 of 4 | 0 of 1 | 0 of 1 |
Nomura Financial Advisory and Securities India Private Limited 2021 – 2026 | 9 3 measurable | -7.8% | 2 of 3 | 1 of 1 | 1 of 2 |
SBI Capital Markets Limited 2022 – 2026 | 46 6 measurable | +5.4% | 3 of 5 | 0 of 1 | 0 of 1 |
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Mufg Intime India Private Limited 2025 – 2026 | 77 18 measurable | +17.2% | 1 of 6 | 1 of 1 | 1 of 4 |
A count of what happened to the other issues each firm was named on, computed from exchange closes. Not a rating, not a ranking, and not a view on the firm.
- Prospectus· PDF · exchange archive26 Feb 2026
- Draft red herring prospectus (DRHP)· PDF · exchange archive17 Aug 2025
- Anchor investor allotment· ZIP · exchange archive
- Financial ratios advertisement· ZIP · exchange archive
Filed with SEBI and the exchanges by the issuer. These are the source for every figure on this page.
Compiled from NSE and SEBI offer documents and exchange feeds. A description of the issue and of the bids received — not investment advice, and not a view on whether to apply. No grey-market premium, no allotment lookup and no listing-gain estimate is published here.