CleanMax's IPO subscribed on Final Day of Bidding; Strong QIB & NII support

CleanMax thanks investors for subscribing to its IPO

 

CleanMax sees strong institutional backing from marquee FIIs & DIIs making the IPO a success.

 

The initial public offering of equity shares of face value of Re. 1 each of Clean Max Enviro Energy Solutions Limited (“CleanMax” or the “Company” and such offer as the “IPO” or “Offer”) was subscribed 99.26% on the final day of bidding.

 

QIB Portion was subscribed 2.99 times and NII (HNI) was subscribed 0.57 times.

 

The Company would like to clarify the subscription details basis the information available at National Stock Exchange as under:

 

1. The Offer received bids of 2,05,69,122 shares against the offered 2,07,23,155 equity shares, at the upper end of the price band, i.e. Rs 1,053 per Equity Share; amounting to 99.26% subscription.

 

2. The Offer received bids of 2,05,69,122 shares against the offered 2,18,23,329 equity shares, at the lower end of the price band, i.e. Rs 1,000 per Equity Share

 

The issue opened for subscription on Monday, February 23, 2026, and closed for subscription on Wednesday, February 25, 2026 at 05:00 pm. Prior to the opening of issue, CleanMax raised INR 921 Cr from anchor investors including SBI Life, HDFC MF, ADIA, Temasek Holdings. Further, in early February it raised 1500 Crores in a Pre-IPO round from Temasek Holding, Bain Capital, Trust Group, 360 One amongst others.

 

Further details in relation to the Offer will be disclosed in the prospectus which will be filed by the Company in accordance with the applicable laws and will remain subject to finalisation of the Basis of Allotment.