Clean Max Enviro IPO Allotment LIVE: GMP, steps to check share allotment status online on BSE, NSE, MUFG

Here are the steps to check Clean Max Enviro IPO allotment status on MUFG Intime

Step 1] Visit IPO registrar website on this link - https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Step 2] Choose ‘Clean Max Enviro Energy Solutions Limited’ in the Select Company dropdown menu

Step 3] Select among PAN, App. No., DP ID or Account No.

Step 4] Enter the details as per the option selected

Step 5] Click on Search

Your Clean Max Enviro IPO allotment status will be displayed on the screen.

Here are the steps to check Clean Max Enviro IPO allotment status on MUFG Intime

Step 1] Visit IPO registrar website on this link - https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Step 2] Choose ‘Clean Max Enviro Energy Solutions Limited’ in the Select Company dropdown menu

Step 3] Select among PAN, App. No., DP ID or Account No.

Step 4] Enter the details as per the option selected

Step 5] Click on Search

Your Clean Max Enviro IPO allotment status will be displayed on the screen.

The company’s business model differs from that of utility-scale RE developers, as it does not participate in competitive tenders with state-owned distribution companies or central government utilities. The company’s weighted average tariff for capacity commissioned in 6 months ended September 30, 2025, was ₹3.66 per kWh, whereas the industry weighted average for listed utility-scale renewable energy players for the same period was ₹2.44 – 2.46 per kWh.

CleanMax’s strategy is centered on positioning itself as a long-term Net Zero partner to corporates, supported by a customer-first culture, execution excellence and disciplined capital allocation. The company’s strategic framework is built around deepening customer relationships, scaling its C&I renewable platform, maintaining capital efficiency and strengthening its integrated execution capabilities.

The company is India’s largest C&I renewable energy service provider, with a market share of around 8%. It acts as a net-zero partner to corporates, which account for nearly 50% of India’s total power consumption, representing an estimated market opportunity of ₹3 trillion, said SBI Securities.

The brokerage added that CleanMax enjoys premium power tariffs compared to utilities, supported by its higher average project ticket size of around 13 MW.

The company operates in a competitive landscape, with some of the listed IPPs such as Adani Green Energy Ltd. and ReNew Energy. Global Plc, ACME Solar Holdings Ltd., NTPC Green Energy Ltd., and other large unlisted IPPs such as Tata Power Renewable Energy Ltd. and JSW Neo Energy Ltd. Some of these companies serve C&I customers as part of their broader business operations.

Furthermore, CleanMax faces direct competition from peers such as Continuum Green Energy Ltd., Amplus Solar Power Pvt. Ltd., Fourth Partner Energy Pvt. Ltd., and AMPIN Energy Transition Pvt. Ltd.

These firms have a sizable quantum of operational RE capacities with over 70% of the capacity tied up with C&I customers, said brokerage firm Axis Capital.

Clean Max Enviro IPO Allotment LIVE: To verify the allotment status for the Clean Max Enviro IPO on MUFG Intime, follow these steps:

Step 1] Go to the IPO registrar's website using this link - https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Step 2] From the dropdown menu, select ‘Clean Max Enviro Energy Solutions Limited’

Step 3] Choose one of the options: PAN, Application Number, DP ID, or Account Number.

Step 4] Fill in the required details based on your selected option.

Step 5] Click on the Search button.

The allotment status for your Clean Max Enviro IPO will appear on the screen.

Clean Max Enviro IPO Allotment LIVE: Clean Max Enviro Energy Solutions IPO basis of allotment of shares will be finalised on Thursday, February 26 and the company will initiate refunds on Thursday, while the shares will be credited to the demat account of allottees on Friday, February 27. Clean Max Enviro Energy Solutions share price is likely to be listed on BSE and NSE on Monday, March 2.

Clean Max Enviro Energy proposes to utilise the net proceeds in the following manner:

> Funding expenditure towards setting-up of 15 new brand-exclusive stores across India with a focus of targeting Tier-1 cities and selectively exploring Tier-2 cities in Maharashtra and other metro cities in India (New Stores);

> Marketing and promotional expenses related to the launch of the 15 new stores, aimed at enhancing local brand awareness and visibility of their flagship brand, “Reva”, in their respective areas

> General corporate purposes

At the upper-end of the Clean Max Enviro IPO price band, the company is valued at EV/EBITDA of 21.5x with its FY25 earnings and market cap of ₹12,325 crore post issue of equity shares. Thus, analysts believe that the IPO was fully priced.

The trend suggests that while institutions appear constructive on the business model, broader investor participation remained cautious, likely factoring in valuation comfort, capital intensity, and near-term return visibility. For investors, Clean Max Enviro IPO underscores the importance of aligning expectations with long-term execution rather than short-term listing performance, said Gaurav Garg, Lemonn Markets Desk.

Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the Clean Max Enviro IPO registrar.

Clean Max Enviro Energy Solutions shares are witnessing a weak trend in the unlisted market, with a negative grey market premium (GMP). According to websites tracking the grey market, Clean Max Enviro IPO GMP today is ₹-17 per share. This means that in the grey market, Clean Max Enviro shares are trading at lower by ₹17 apiece than their issue price.

Clean Max Enviro Energy Solutions IPO GMP today signals that the estimated listing price of the stock would be ₹1,036 per share, which is at a discount of 1.61% to the issue price of ₹1,053 per share.

Here are the steps to check Clean Max Enviro IPO allotment status on MUFG Intime

Step 1] Visit IPO registrar website on this link - https://in.mpms.mufg.com/Initial_Offer/public-issues.html

Step 2] Choose ‘Clean Max Enviro Energy Solutions Limited’ in the Select Company dropdown menu

Step 3] Select among PAN, App. No., DP ID or Account No.

Step 4] Enter the details as per the option selected

Step 5] Click on Search

Your Clean Max Enviro IPO allotment status will be displayed on the screen.

How to check Clean Max Enviro IPO allotment status on NSE

Step 1] Visit NSE allotment status page on its website here - https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 2] Select ‘Equity and SME IPO bids’

Step 3] Choose ‘Clean Max Enviro Energy Solutions Limited’ from the Issue Name dropdown menu

Step 4] Enter your PAN and Application Number

Step 5] Click on Submit.

Your Clean Max Enviro Energy IPO allotment status will be displayed on the screen.

Here are steps to check Clean Max Enviro IPO allotment status on BSE

Step 1] Visit BSE website on this link - https://www.bseindia.com/investors/appli_check.aspx

Step 2] Select ‘Equity’ in the Issue Type

Step 3] Choose ‘Clean Max Enviro Energy Solutions Limited’ in the Issue Name dropdown menu

Step 4] Enter either Application No. or PAN

Step 5] Verify by ticking on ‘I am not robot’ and click on ‘Search’

Your Clean Max Enviro Energy Solutions IPO allotment status will be displayed on the screen.

Clean Max Enviro IPO has been subscribed 94% in total, NSE data showed. The public issue was booked 6% in the Retail Individual Investors (RIIs) category, and 54% in the Non Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIBs) category received 2.83 times subscription.

Clean Max Enviro IPO price band was set at ₹1,000 to ₹1,053 per share. The company raised ₹3,100 crore from the book-building issue which was a combination of fresh issue of 1.14 crore equity shares worth ₹1,200 crore, and offer-for-sale (OFS) of 1.80 crore shares amounting to ₹1,900 crore.

Clean Max Enviro Energy Solutions IPO was open for subscription from February 23 to 25. Clean Max Enviro IPO allotment date is likely today, February 26. Once the basis of share allotment is fixed, it will then credit the equity shares into the demat accounts of eligible allotment holders and initiate refunds to unsuccessful bidders on February 27. Clean Max Enviro IPO listing date is March 2, and the shares will be listed on both the stock exchanges - BSE and NSE.

Clean Max Enviro Energy Solutions Ltd received weak demand for its initial public offering (IPO). As the bidding period has ended, investors now focus on Clean Max Enviro IPO allotment date, which is likely today, 26 February 2026.