214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9804.70 Crs.  Total funds raised in 2,025.00

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

Clean Max Enviro Energy Solutions Limited IPO Analysis

Clean Max Enviro Energy Solutions IPO is a Book Building listing on BSE,NSE exchange, with an ipo size of ₹ [●] Cr. The company is based in Mumbai and caters to Power And Energy sector. Axis Capital , Bnp Paribas , Bob Capital Markets , Hsbc Securities & Capital Markets Limited , IIFL Securities , J.P. Morgan India , Nomura Financial Advisory And Securities (India) , SBI Capital Markets are the merchant bankers of Clean Max Enviro Energy Solutions IPO. It is a MainBoard Upcoming IPO which filed its Draft Red Herring Prospectus (DRHP) on 16th August 2025.

Clean Max Enviro Energy Solutions IPO posted revenues of ₹ 1,495.70 Cr. and PAT of ₹ 19.43 Cr. in FY25 on annualised basis.

IPO Key Highlights

*At the time of IPO, on Annualised Basis
  • Revenue: ₹ 1,495.70 Cr.
            EBITDA: ₹ 1,015.07 Cr.
            PAT: ₹ 19.43 Cr.
  • EBITDA Margin: 67.87 %
            Pat Margin: 1.30 %
  • Net Worth: ₹ 2563.48 Cr.
  • Market Capitalisation: [●]
  • P/E: [●]
  • P/BV: [●]
  • EV/EBITDA: 7.53 times
Nature of IPO : MainBoard Upcoming
Exchange : BSE,NSE
IPO Type : Book Building

Clean Max IPO Financial Performance (Restated)

Financial results of Clean Max Enviro Energy Solutions IPO based on restated financials as per prospectus and IPO review parameters can be referred to below.

Amount in ₹ crores
Financials FY25 FY24 FY23
Balance Sheet
Assets 13279.25 9076.55 7000.14
Net Worth 2563.48 1833.47 1210.74
Total Debt 7973.70 5514.56 3843.41
Profit & Loss
Revenue
Revenue on annualised basis
1495.70 1389.84 929.58
EBITDA
EBITDA on annualised basis
1015.07 741.57 405.92
PAT
PAT on annualised basis
19.43 -37.64 -59.47
Financials
FY25
FY24
FY23
Balance Sheet
Assets
13,279.25
9,076.55
7,000.14

Net Worth
2,563.48
1,833.47
1,210.74

Total Debt
7,973.70
5,514.56
3,843.41

Profit & Loss
Revenue
Revenue on annualised basis
1,495.70
1,495.70
1,389.84
929.58

EBITDA
EBITDA on annualised basis
1,015.07
1,015.07
741.57
405.92

PAT
PAT on annualised basis
19.43
19.43
-37.64
-59.47

Notes:
1) Total debt incluides long-term borrowings and short-term borrowings.
2) Revenue means the Revenue from Operations as appearing in the Restated Financial Statements.

Clean Max IPO Key performance Indicators (KPI)

Clean Max Enviro Energy Solutions IPO PAT Margin is 1.30 % , ROCE (Return on Capital Employed) is [●] % as per latest financial. The below table shows Clean Max Enviro Energy Solutions IPO Key Performance Indicators (KPI) as mentioned in company’s prospectus.

Particulars FY25 FY24 FY23
EBITDA Margin (%) 67.87 53.36 43.67
PAT Margin (%) 1.30 -2.71 -6.40
EPS (₹) 2.88 -3.94 -9.01
ROE (%) 0.76 -2.05 -4.91
ROCE (%) [●] [●] [●]
ROA (%) 0.15 -0.41 -0.85
Debt to Equity 3.11 3.01 3.17
Particulars
FY25
FY24
FY23

EBITDA Margin (%)
67.87
53.36
43.67

PAT Margin (%)
1.30
-2.71
-6.40

EPS (₹)
2.88
-3.94
-9.01

ROE (%)
0.76
-2.05
-4.91

ROCE (%)
[●]
[●]
[●]

ROA (%)
0.15
-0.41
-0.85

Debt to Equity (x)  
3.11
3.01
3.17

Notes:
1) The EPS represents post-bonus basic EPS.
2) Return on Equity is ratio of Profit after Tax and Total Equity.
3) Return on Assets is ratio of Profit after Tax and Total Assets.
4) Debt to Equity is ratio of Total borrowings and Total Equity.

Clean Max Enviro Energy Solutions IPO Valuation Metrics

The market Capitalisation of Clean Max Enviro Energy Solutions IPO is ₹ [●] crores at the time of IPO and other IPO valuation metrics of this IPO is mentioned below.

Key Metrics (at the time of IPO)


Market Capitalisation (₹ Cr.):
[●]

Enterprise Value (EV) (₹ Cr.):
[●]

EV/EBITDA (times) :
[●]

PE Multiple (times) :
[●]

P/B (times) :
[●]

NAV (₹) :
250.93

Notes:
1) The Enterprise Value is calculated as Market Cap. + Total Debt - Cash and Cash Equivalents.
2) Price to Book multiple is calculated as the ratio of Market Cap. and Net Worth post IPO proceeds.

What are the key financial metrics in Clean Max prospectus?

The Clean Max Enviro Energy Solutions IPO prospectus highlights an Return on Equity (ROE) of 0.76 % , Return on Assets (ROA) of 0.15 %, and an EBITDA Margin of 67.87 %, showcasing financial performance.

How do profitability ratios impact the evaluation of Clean Max IPO?

Profitability ratios like Return on Equity (ROE), Return on Assets (ROA), and Net Profit Margin shows Clean Max Enviro Energy Solutions IPO financial report. Analysing these metrics can provide insights into the company’s efficiency, profitability, and long-term growth potential.

What is the market capitalisation for Clean Max IPO ?

The post-IPO market capitalisation of Clean Max Enviro Energy Solutions IPO is ₹ [●] Cr., based on the issue price and share structure. It helps investors gauge the company’s valuation and compare it with industry peers before investing.

What is the PE Multiple of Clean Max IPO?

The Clean Max Enviro Energy Solutions IPO has a Price-to-Earnings (PE) ratio of [●], indicating valuation compared to industry peers. It helps investors determine if the stock is overvalued or undervalued compared to its earnings and industry peers.

What is the Revenue of Clean Max Enviro Energy Solutions IPO?

Clean Max Enviro Energy Solutions IPO reported revenue of ₹ 1495.70 Cr. in the latest fiscal year, showing business performance, on annualised basis. Revenue figures from Clean Max Enviro Energy Solutions IPO provide insights into sales growth, market demand, and business scalability.

What is the EBITDA of Clean Max Enviro Energy Solutions IPO?

Clean Max Enviro Energy Solutions recorded an EBITDA of ₹ 1,015.07 Cr., reflecting operational efficiency. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) measures operational profitability.

What is the PAT of Clean Max Enviro Energy Solutions IPO?

Clean Max Enviro Energy Solutions Profit After Tax (PAT) is ₹ 19.43 Cr., reflecting earnings growth. Profit After Tax (PAT) reflects the company’s actual earnings after all expenses, taxes, and deductions

IPO Key Highlights

*At the time of IPO, on Annualised Basis
  • Revenue: ₹ 1,495.70 Cr.
            EBITDA: ₹ 1,015.07 Cr.
            PAT: ₹ 19.43 Cr.
  • EBITDA Margin: 67.87 %
            Pat Margin: 1.30 %
  • Net Worth: ₹ 2,563.48 Cr.
  • Market Capitalisation: [●]
  • P/E: [●]
  • P/BV: [●]
  • EV/EBITDA: [●]

Revenue

(As Annualised)

EBITDA

(As Annualised)

PAT

(As Annualised)
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FAQs

Clean Max Enviro Energy Solutions operates in Power And Energy and Commercial And Industrial (C&I) Renewable Energy. The Issue is listed on BSE,NSE in Oct, 2025. Clean Max Enviro Energy Solutions IPO size was with Issue price of .

Merchant Banker(s) of Clean Max Enviro Energy Solutions IPO: Axis Capital Limited , Bnp Paribas , Bob Capital Markets Limited , Hsbc Securities & Capital Markets Private limited , IIFL Securities Limited , J.P. Morgan India Private Limited , Nomura Financial Advisory And Securities (India) Private Limited , SBI Capital Markets Limited

Clean Max Enviro Energy Solutions IPO subscription was X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Clean Max Enviro Energy Solutions IPO listed at a listing price of against the offer price of .

The current market price of Clean Max Enviro Energy Solutions is .

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