Clean Max Enviro Energy Solutions IPO Fund Utilization Report Filed
Clean Max Enviro Energy Solutions Ltd has filed its Monitoring Agency Report for the quarter ended September 30, 2026, detailing the utilization of funds raised through its Initial Public Offering (IPO). The IPO, which raised ₹3,079.88 Crores, was completed on February 26, 2026. CARE Ratings Limited, acting as the Monitoring Agency, has confirmed that the IPO proceeds have been utilized appropriately for the objects stated in the offer document. There has been no deviation or variation in the utilization of funds. The unutilized balance remains in the allotment account as per regulations. The report also notes that shares earmarked for employees at a discount were undersubscribed and subsequently opened for public subscription, which was fully subscribed.
Key Highlights
- IPO proceeds of ₹3,079.88 Crores utilized as per offer document.
- No deviation or variation reported in fund utilization for Q3 FY27.
- CARE Ratings Limited confirms appropriate use of IPO funds.
- Unutilized IPO funds are held in the allotment account.
- Employee share allocation undersubscription noted.
Price Impact
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