Clean Max Enviro Energy Solutions Gears Up for Rs 5,200 Crore IPO in November
Clean Max Enviro Energy Solutions, backed by Brookfield, is preparing for a Rs 5,200 crore ($586 million) IPO in November. The offering includes Rs 1,500 crore in new shares and Rs 3,700 crore in secondary offering. Brookfield owns 42.90% and Augment Infrastructure Partners holds 20% of the company. Clean Max reported revenue of Rs 1,610 crore and net income of Rs 19.40 crore, with an operational capacity of 2.54 gigawatts. The IPO proceeds will be used for debt repayment and corporate purposes, managed by JPMorgan, BNP Paribas, HSBC, Nomura, and Axis Bank.
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Clean Max Enviro Energy Solutions Ltd., a Brookfield-backed commercial and industrial renewable energy provider, is set to make its market debut with a substantial Rs 5,200 crore ($586 million) initial public offering (IPO) planned for November. The company has already initiated investor roadshows and is awaiting regulatory approvals to launch its share sale.
IPO Structure and Stakeholders
The IPO is structured as follows:
| Component | Amount (in Rs) |
|---|---|
| New Shares | 1,500 crore |
| Secondary Offering | 3,700 crore |
| Total IPO Size | 5,200 crore |
Key stakeholders in the company include:
| Stakeholder | Ownership Percentage |
|---|---|
| Brookfield | 42.90% |
| Augment Infrastructure Partners | 20.00% |
Financial Performance and Operational Capacity
Clean Max Enviro Energy Solutions has demonstrated strong financial performance:
| Metric | Value |
|---|---|
| Revenue | Rs 1,610.00 crore |
| Net Income | Rs 19.40 crore |
| Operational Capacity | 2.54 gigawatts |
| Contracted Capacity | 2.53 gigawatts |
IPO Proceeds and Managing Banks
The company plans to utilize the IPO proceeds for debt repayment and general corporate purposes. The share sale is being managed by a consortium of prominent financial institutions:
- JPMorgan
- BNP Paribas
- HSBC
- Nomura
- Axis Bank
This IPO marks a significant step for Clean Max Enviro Energy Solutions in the renewable energy sector, potentially providing investors with an opportunity to participate in India's growing clean energy market.
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