Clean Max Enviro: FII Trades 8.28 Lakh Shares of the Company

Synopsis: The shares of a leading renewable energy supplier were in focus after the major foreign institutional investor exchanged shares of the company worth Rs. 70.18 Crores in a day’s trading. 

The shares of this renewable energy stock  majorly engaged as commercial and industrial renewable energy provider, plunged upto 7 percent after Citigroup Global Markets Mauritius Pvt Ltd sold via bulk deal 

With the market capitalization of Rs. 9759 Crores, the shares of Clean Max Enviro Energy Solutions Ltd has reached an intraday low of Rs. 811.30 per share, down 6.4 percent from its previous day close of Rs. 867.50 

Bulk Deal details

Citigroup Global Markets Mauritius Pvt Ltd carried out a bulk sale transaction on the NSE on March 2 2026.  The entity sold a total of 8,28,860 shares at an average price of Rs. 846.72 per share which amounts to a total of Rs. 70.18 Crores. The deal was categorized as a bulk transaction and was not executed as an intraday trade. 

IPO Details

Clean Max Enviro Energy Solutions launched its IPO as a book-built issue worth Rs. 3,079.88 crore. The offer consisted of a fresh issue of 1.14 crore shares raising Rs. 1,196.16 crore and an offer for sale of 1.79 crore shares amounting to Rs. 1,883.72 crore. The IPO opened for subscription on February 23, 2026, and closed on February 25, 2026. The allotment was finalized on February 26, 2026, and the shares were listed on the BSE and NSE on March 2, 2026. The company’s shares debuted  at Rs. 960 per share which opened nearly at an 8 percent discount from its issue  price of Rs. 1053

 The company plans to use Rs. 1,122.67 crore from the fresh issue proceeds towards repayment or pre-payment of certain outstanding borrowings of the company and its subsidiaries, while Rs. 23.79 crore will be used for general corporate purposes, taking the total utilisation to Rs. 1,146.46 crore.

Financials

Clean Max Enviro Energy Solutions is primarily a commercial and industrial renewable energy provider. The company has around 2.54 GW of operational, owned, and managed capacity, and another 2.53 GW of contracted capacity that is currently under execution. It supplies renewable power and energy services to a wide range of customers, including technology companies as well as traditional commercial and industrial clients. In addition to power supply, it also offers carbon credit solutions to help customers meet their sustainability goals.

The company operates through two main business segments. Under the renewable energy power sales segment, it sells green power to customers through long-term agreements such as PPAs and EAPAs, providing stable and predictable supply. The second segment is renewable energy services, where the company offers turnkey development solutions. This includes support across the entire project lifecycle, such as land acquisition, setting up evacuation infrastructure, EPC services, power evacuation, and operations and maintenance. It also provides carbon services as part of this segment.

Quarter on Quarter analysis: Revenue from Operations has increased from Rs. 1,128 Crores to Rs. 1,458 Crores, up 29.25 percent. Operating profit has increased from Rs. 175 Crores to Rs. 327 Crores, up 86.8 percent and net profit has increased from Rs. 134 Crores to Rs. 239 Crores, up 78.3 percent 

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