CleanMax Enviro Energy Solutions has finalized the details for its upcoming Initial Public Offering (IPO), marking a significant milestone in India’s renewable energy sector. The company has set the price band at ₹1,000 to ₹1,053 per equity share. The subscription window is scheduled to open on February 23, 2026, and will close on February 25, 2026. Anchor investor participation is expected to commence on February 20. At the upper end of the price band, the company aims to raise a total of ₹3,100 crore. This capital raise is structured as a mix of a fresh issue worth ₹1,200 crore and an offer for sale (OFS) of 1.80 crore shares, valued at approximately ₹1,900 crore. Notably, the total issue size was revised downward from an earlier proposal of ₹5,200 crore to better align with current market conditions. The proceeds from the fresh issue are largely earmarked for strengthening the balance sheet. Approximately ₹1,122.6 crore will be used for the repayment or prepayment of debt, which is expected to lower interest costs and improve overall profitability. Retail investors can participate with a minimum lot size of 14 shares, requiring an entry-level investment of ₹14,742. A special reservation of shares worth ₹30 crore has been made for employees, who are eligible for a discount of ₹100 per share. CleanMax enters the public market following a strong financial performance. The company reported a turnaround in the 2025 fiscal year, posting a profit of ₹19.43 crore compared to a loss in the previous year. Revenue from operations climbed 13% to reach ₹1,610 crore. More recently, for the quarter ended September 2025, the company saw a massive 222% surge in net profit to ₹239 crore. The company currently manages an operational capacity of 2.54 GW, with an additional 2.53 GW under contract. As the leading provider of renewable energy to the commercial and industrial (C&I) segment, CleanMax serves high-demand clients including data centers and technology firms. The timing of the IPO coincides with a broader surge in India's green energy landscape. The sector added a record 44.5 GW of capacity in 2025, and Budget 2026 has further bolstered the industry with an allocation of over ₹75,000 crore to the Ministry of New and Renewable Energy. Share allotment is expected to be finalized by February 26, 2026, with the official listing on the BSE and NSE tentatively scheduled for March 2, 2026. The issue is being managed by a consortium of lead managers including Axis Capital, JP Morgan, and HSBC.