Clean Max Enviro Energy Solutions Raises INR 921 Crore from Anchor Investors Ahead of IPO
The company’s IPO comprises a fresh issue of INR 1,200 crore and an offer-for-sale of INR 1,900 crore, taking the total issue size to INR 3,100 crore at the upper end of the price band.
February 23, 2026. By Abha Rustagi
The company allocated 8,746,437 equity shares at INR 1,053 per share to anchor investors.
Investors participating in the anchor round included Temasek Holdings, SBI Life, Nomura Asset Management, HDFC Mutual Fund, Abu Dhabi Investment Authority, Franklin Templeton Mutual Fund, Eastspring Investments, SBI General Insurance, Premji Invest, 360 One Mutual Fund, Trust Group, BNP Paribas and Tata Investment Corporation, among others.
Foreign institutional investors accounted for 32 percent of the anchor book, while domestic institutional investors made up the remaining 68 percent.
Of the total anchor allocation, 4,591,720 equity shares worth about INR 483.51 crore, or 52.5 percent of the anchor book, were allotted to Temasek Holdings, SBI Life, Nomura Asset Management, Eastspring Investments, HDFC Mutual Fund, Franklin Templeton Mutual Fund, 360 One Mutual Fund, SBI General Insurance and Abu Dhabi Investment Authority.
Earlier this month, on February 6, CleanMax raised INR 1,500 crore in a pre-IPO round from investors including Temasek Holdings, Bain Capital, 360 One, Steinberg India Emerging Opportunities Fund, Steadview Capital and family offices of the Dalmia group, and the Jaisinghani and Taparia families.
The company’s IPO comprises a fresh issue of INR 1,200 crore and an offer-for-sale of INR 1,900 crore, taking the total issue size to INR 3,100 crore at the upper end of the price band.
The IPO will open on February 23 and close on February 25, 2026. Investors can bid for a minimum of 14 equity shares and in multiples thereafter.
The issue follows the book-building process, with up to 50 percent reserved for qualified institutional buyers, 15 percent for non-institutional investors and 35 percent for retail investors.
Axis Capital, J.P. Morgan India, BNP Paribas, HSBC Securities and Capital Markets India, IIFL Capital Services, Nomura Financial Advisory and Securities India, BOB Capital Markets and SBI Capital Markets are the book-running lead managers, while MUFG Intime India is the registrar to the offer.
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