The offering consists of a fresh issue of shares worth approximately 12 billion rupees ($132.3 million) alongside a secondary sale of 19 billion rupees by existing shareholders, including founder Kuldeep Jain. According to the company’s prospectus, shares are priced between 1,000 and 1,053 rupees. Clean Max has already secured significant institutional support, allocating 30% of the total offering to cornerstone investors such as Singapore’s Temasek and the Abu Dhabi Investment Authority.
In section Market Quotes
Clean Max Eyes $342 Million India IPO Amid Renewable Energy Push
Clean Max Enviro Energy Solutions, a renewable energy firm backed by Brookfield Asset Management, has opened orders for its $341.7 million initial public offering in India. The company, which provides power to tech giants like Amazon and Google, plans to list on both major Indian exchanges on March 2, capitalizing on a surge of equity market activity in the region.
Management intends to deploy the proceeds toward debt reduction and general corporate operations. The move comes as Clean Max solidifies its position as a preferred green energy partner for multinational corporations. By transitioning from private backing to public markets, the firm aims to scale its infrastructure to meet the growing demand for sustainable power solutions across the subcontinent.
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