CleanMax gets SEBI nod for ₹5,200-cr IPO to repay debt, fuel growth

CleanMax gets SEBI nod for ₹5,200-cr IPO to repay debt, fuel growth

November 11, 2025

India’s largest renewable energy company CleanMax has received approval from the capital markets regulator, the Securities and Exchange Board of India, to raise ₹5,200 crore through an initial public offering. Proceeds from the issue would be utilized to reduce debt and expand its national footprint.

CleanMax said the IPO proceeds will be mainly used for debt-reduction, which would strengthen its balance sheet ahead of a major growth push into solar, wind and renewable-energy infrastructure. With fresh capital, the firm intends to scale its project pipeline, augment capacity and tap rising demand for sustainable power solutions.

The transaction has come at a time when India is ramping up investments in renewables, and CleanMax expects the new funding to support expansion and working capital needs, being already among the country’s prominent renewable-energy providers. The IPO represents a key milestone in its long-term strategy to firm its market position and leverage the acceleration of the clean-energy transition wave. With this development, CleanMax has secured the nod of SEBI and now intends to go ahead with its public listing plans, one that investors and industry trackers will closely follow as appetite grows for green-energy plays that carry the promise of strong returns on the back of large-scale infrastructure and sustainability demand.

Nov 11, 2025