Clean Max Enviro Energy Solutions has filed draft papers with markets regulator Securities and Exchange Board of India (SEBI), seeking approval to raise Rs 5,200 crore through an Initial Public Offering (IPO). The proposed issue comprises a fresh issue of shares worth up to Rs 1,500 crore and an Offer For Sale (OFS) of shares valued at Rs 3,700 crore by promoters and an investor shareholder.
Proceeds from the fresh issue amounting to Rs 1,125 crore will be used to repay debt, while the balance will go towards general corporate purposes. Axis Capital, JP Morgan India, BNP Paribas, HSBC Securities and Capital Markets, IIFL Capital Services, Nomura Financial Advisory and Securities, BOB Capital Markets, and SBI Capital Markets have been appointed as the lead managers for the IPO.
Founded in 2010, Clean Max specialises in net zero and decarbonisation solutions for C&I customers. Its offerings include renewable power supply — wind, solar, hybrid — energy services, and carbon credit solutions.
