Clean Max Enviro Energy IPO

Clean Max Enviro Energy Solutions is a renewable energy company focused on providing power to commercial and industrial (C&I) customers in India. As of the date of the prospectus, it had 2.80 GW of operational, owned, and managed capacity. The company supplies renewable power and provides energy contracting, engineering, procurement, and construction (EPC), and operation and maintenance (O&M) services for solar, wind, and hybrid power plants. It also offers carbon credit solutions and end-to-end decarbonisation services to sectors such as data centres, technology, infrastructure, cement, steel, manufacturing, FMCG, pharmaceuticals, and real estate. Projects are developed by the company either on-site at customer premises or off-site at renewable energy farms. Clean Max Enviro Energy Solutions operates renewable energy assets across multiple Indian states, with a significant presence in Gujarat and Karnataka. Use of proceeds: The IPO consists of both a fresh issue and an offer for sale (OFS).​ Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes:​ Repayment and/or prepayment, in part or in full, of all or certain outstanding borrowings of the company and/or certain of its subsidiaries — Rs 1,122.67 crore. General corporate purposes.;