CleanMax Raises ₹2,500 Cr via India's First C&I Green Bond

CleanMax Enviro Energy Solutions Ltd has successfully raised ₹2,500 crore through India's first green bond issuance specifically for the Commercial & Industrial (C&I) renewable sector. The issuance, rated CRISIL AA/Stable, was structured as rated, secured, listed, redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The funds will finance and/or refinance solar, wind, hybrid generation, and battery storage projects. The NCDs were issued across five series with maturities from 2 to 10 years and fixed coupons ranging from 8.25% to 8.76%. The issuance attracted significant participation from marquee institutional investors including IFC, NABFID, and IIFCL, alongside banks, NBFCs, and mutual funds. This marks a significant step in deepening CleanMax's access to the domestic debt capital markets and securing long-term, fixed-rate funding.