CleanMax Solar Solutions Announces Early Redemption of INR 499 Crore Debentures
CleanMax Solar Solutions Limited announced early redemption of 4,990 non-convertible debentures worth INR 499,00,00,000 scheduled for April 2, 2026. The company will use IPO proceeds to prepay nine institutional investors including Allianz Global Investors, Nomura Capital, and IL&FS Infrastructure Debt Funds. Total redemption amount includes INR 34,06,782 in accrued interest with record date set for March 18, 2026.
*this image is generated using AI for illustrative purposes only.
Clean Max Enviro Energy Solutions Limited has announced its decision to exercise early redemption rights for its non-convertible debentures, marking a significant step in the company's debt restructuring strategy. The solar energy solutions provider filed the intimation with stock exchanges on March 12, 2026, detailing the redemption of debentures worth INR 499,00,00,000.
Debenture Redemption Details
The company will redeem 4,990 senior, redeemable, listed, rated, zero coupon, non-convertible debentures, each with a face value of INR 10,00,000. The redemption is scheduled for April 2, 2026, with the record date fixed for March 18, 2026.
| Parameter | Details |
|---|---|
| Total Debentures | 4,990 units |
| Face Value per Debenture | INR 10,00,000 |
| Total Principal Amount | INR 499,00,00,000 |
| Redemption Date | April 2, 2026 |
| Record Date | March 18, 2026 |
Investor-wise Redemption Breakdown
The redemption covers nine institutional investors, with Allianz Global Investors holding the largest exposure across multiple funds. The early redemption amounts include accrued interest for the period from April 1 to April 2, 2026.
| Debenture Holder | Principal Value (INR) | Accrued Interest (INR) | Total Redemption Amount (INR) |
|---|---|---|---|
| Allianz Global Investors (APAV Fonds) | 9,30,00,000 | 65,203 | 9,30,65,203 |
| Allianz Global Investors (RFG Fonds) | 9,30,00,000 | 65,203 | 9,30,65,203 |
| Allianz Global Investors (VGI 1 Fonds) | 8,30,00,000 | 58,193 | 8,30,58,193 |
| Allianz Global Investors (VGL Fonds) | 1,94,60,00,000 | 13,64,362 | 1,94,73,64,362 |
| Allianz Global Investors (VK Rentendirekt Fonds) | 27,50,00,000 | 1,92,806 | 27,51,92,806 |
| IL&FS Infrastructure Debt Fund Series-2B | 50,00,00,000 | 3,15,500 | 50,03,15,500 |
| IL&FS Infrastructure Debt Fund Series 2C | 25,00,00,000 | 1,57,750 | 25,01,57,750 |
| Nomura Capital (India) Private Limited | 1,00,00,00,000 | 6,31,000 | 1,00,06,31,000 |
| Nomura Investments (Singapore) Pte Ltd | 75,00,00,000 | 5,56,765 | 75,05,56,765 |
IPO Proceeds for Debt Prepayment
The company intends to use proceeds from its initial public offer to prepay the redemption amounts. The prepayment notice indicates that CleanMax is planning to list its shares on stock exchanges and utilize the IPO funds for comprehensive debt restructuring.
The total accrued interest for the one-day period amounts to INR 34,06,782, with regular interest payments up to March 31, 2026, to be made in the normal course. The company has obtained necessary approvals from debenture holders and trustees for the early redemption.
Regulatory Compliance and Documentation
CleanMax has fulfilled all regulatory requirements under SEBI regulations, including proper notice to Vistra ITCL (India) Limited, the debenture trustee. The company has also received confirmations from all major debenture holders, including Allianz Global Investors, Nomura entities, and IL&FS Infrastructure Debt Funds, approving the early redemption terms.
The debentures were originally issued through private placement under a debenture trust deed dated May 6, 2022, which has been amended and restated multiple times, with the latest amendment on January 12, 2026.
Historical Stock Returns for Clean Max Enviro Energy Solutions
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.45% | +5.08% | +3.87% | +3.87% | +3.87% | +3.87% |
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