IPO 2025

CleanMax Enviro Energy Solutions Limited
Debenture trustees
Vistra ITCL (India) Limited - 6th Floor, The IL&FS Financial Centre, Plot No. C–22, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051
NOT FOR ACCESS IN OR BY, OR DISTRIBUTION OR TRANSMISSION IN, INTO OR TO, DIRECTLY OR INDIRECTLY, THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS), ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA (THE “UNITED STATES”) OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.THESE MATERIALS ARE NOT DIRECTED AT OR INTENDED TO BE ACCESSED BY PERSONS LOCATED OUTSIDE INDIA.IMPORTANT: You must read and agree with the terms and conditions of the following disclaimer before continuing.The following disclaimer applies to the draft red herring prospectus of Clean Max Enviro Energy Solutions Limited (the “Company”) dated 16th August, 2025 (“DRHP”) filed with the Securities and Exchange Board of India (“SEBI”), BSE Limited and National Stock Exchange of India Limited (collectively, the “Stock Exchanges”), in relation to the initial public offering of the equity shares of face value of ₹1 each (“Equity Shares”) of the Company (“Offer”).THE DRHP IS BEING MADE AVAILABLE ON THIS WEBSITE TO COMPLY WITH SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018, AS AMENDED (“SEBI ICDR REGULATIONS”). The DRHP has been hosted on this website as prescribed under Regulation 26 of the SEBI ICDR Regulations. In accessing the DRHP, you agree to be bound by the following terms and conditions, including any modifications to them from time to time. You are advised to read this disclaimer carefully before reading, accessing or making any other use of the DRHP.The DRHP is directed at, and is intended for distribution to, and use by, residents of India only. The information in this portion of our website, including the DRHP, is not intended for, and may not be accessed in or by, or distributed, published or transmitted in, into or to, directly or indirectly, the United States of America (including its territories and possessions), any state of the United States and the District of Columbia (the “United States”) or any other jurisdiction where it is unlawful to do so. All persons residing outside of the United States who wish to access the DRHP contained on the following page of this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website or require registration or approval for any acquisition of securities by them. No part of the contents of the DRHP shall be copied or duplicated in any form by any means or redistributed. The DRHP does not constitute an offer to sell, or the solicitation of an offer to purchase or acquire, any securities of the Company in the United States or in any other jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable United States state securities laws. Accordingly, the Equity Shares are being offered and sold only (i) within India, to Indian institutional, non-institutional and retail investors in compliance with the SEBI ICDR Regulations, (ii) within the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act (“Rule 144A”) and referred to in the DRHP as “U.S. QIBs” and, for the avoidance of doubt, the term U.S. QIBs does not refer to a category of institutional investor defined under applicable Indian regulations and referred to in the DRHP as QIBs) pursuant to Rule 144A or another available exemption from the registration requirements thereunder, and (iii) outside the United States to eligible investors in “offshore transactions” as defined in, and in reliance on, Regulation S (“Regulation S”) under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur. No public offering of the Equity Shares or other securities is being made in the United States.The DRHP or any information contained on our website or in the DRHP does not constitute, and should not be construed as, “general solicitation” or “general advertising” as defined under Regulation D of the U.S. Securities Act, or “directed selling efforts” under Regulation S.The Company, Promoters and Axis Capital Limited, BNP Paribas, BOB Capital Markets Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Capital Services Limited, J.P. Morgan India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited (collectively, the “Book Running Lead Managers”) and their respective affiliates, directors, officers, agents, representatives, advisers and employees do not accept any liability whatsoever, direct or indirect, that may arise from the use, interception and interpretation of the information contained on this website. The information in the DRHP is as of the date thereof and neither the Company, the Promoters, the Book Running Lead Managers nor their respective affiliates, directors, officers, agents, representatives, advisers or employees are under any obligation to update or revise the DRHP to reflect circumstances arising after the date thereof. You are reminded that documents transmitted in electronic form may be altered or changed during the process of transmission and consequently, neither the Company, the Promoters, the Book Running Lead Managers nor any of their respective affiliates, directors, officers, agents, representatives, advisers or employees accepts any liability or responsibility whatsoever in respect of alterations or changes which have taken place during the course of transmission of the DRHP in electronic format. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see the section titled “Risk Factors” in the DRHP. Potential investors should also refer to the red herring prospectus which will be filed with the Registrar of Companies, Maharashtra at Mumbai (“RoC”) and SEBI in the future, including the section titled “Risk Factors”. Any decision on whether to invest in the equity shares described in the DRHP may only be made after a red herring prospectus has been filed with the RoC, SEBI and the Stock Exchanges and must be made solely on the basis of the red herring prospectus. As there may be material changes in the red herring prospectus versus the DRHP, potential investors should not rely on the DRHP filed with SEBI and the Stock Exchanges.You are accessing this website at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses. Neither the Company, the Promoters, the Book Running Lead Managers nor their respective affiliates, directors, officers, agents, representatives, advisers or employees will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or disruption of this website, or resulting from the act or omission of any other party involved in making this website or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of this website or the DRHP.Failure to comply with this disclaimer may result in a violation of the applicable laws of India and other jurisdictions. Any other information contained in, or that can be accessed via our website does not constitute a part of the DRHP. IF YOU ARE NOT PERMITTED TO VIEW THE MATERIALS ON THIS WEBSITE OR ARE IN ANY DOUBT AS TO WHETHER YOU ARE PERMITTED TO VIEW THESE MATERIALS, PLEASE EXIT THIS WEBPAGE.To access this information, you must confirm, by pressing on the button marked “I Confirm”, that at the time of access, you are located in India. If you cannot make this confirmation, you must press the button marked “I Do Not Confirm”.The documentation contained in these pages is posted solely to comply with Indian legal and regulatory requirements. Making the information contained herein available in electronic format does not constitute an offer to sell, the solicitation of an offer to buy, or a recommendation to buy or sell securities of the Company in the United States or in any other jurisdiction, including without limitation, India.
NOT FOR ACCESS IN OR BY, OR DISTRIBUTION OR TRANSMISSION IN, INTO OR TO, DIRECTLY OR INDIRECTLY, THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS), ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA (THE “UNITED STATES”) OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.
THESE MATERIALS ARE NOT DIRECTED AT OR INTENDED TO BE ACCESSED BY PERSONS LOCATED OUTSIDE INDIA.
IMPORTANT: You must read and agree with the terms and conditions of the following disclaimer before continuing.
The following disclaimer applies to the audio visual film of Clean Max Enviro Energy Solutions Limited (the “Company”) dated 22nd August, 2025 (the “IPO AV”) in relation to the initial public offering of the equity shares of face value of ₹1 each (“Equity Shares”) of the Company (the “Offer”). The Company is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the draft red herring prospectus dated 16th August, 2025 (“DRHP”) with the Securities and Exchange Board of India (“SEBI”), the National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE together with NSE referred to as the “Stock Exchanges”). The DRHP is available on the website of SEBI at www.sebi.gov.in, on the websites of the Stock Exchanges at www.bseindia.com and www.nseindia.com, on the websites of the book running lead managers to the Offer (“Book Running Lead Managers”).
THE IPO AV IS BEING MADE AVAILABLE ON THIS WEBSITE IN ACCORDANCE WITH CIRCULAR ON “AUDIOVISUAL (AV) PRESENTATION OF DISCLOSURES MADE IN PUBLIC ISSUE OFFER DOCUMENTS” DATED MAY 24, 2024, ISSUED BY THE SECURITIES AND EXCHANGE BOARD OF INDIA. You are advised to read this disclaimer carefully before reading, accessing or making any other use of the IPO AV. In accessing the IPO AV, you agree to be bound by the following terms and conditions, including any modifications to them from time to time. The IPO AV is directed at, and is intended for distribution to, and use by, residents of India only. The information in this portion of our website, including the IPO AV, is not intended for, and may not be accessed in or by, or distributed, published or transmitted in, into or to, directly or indirectly, the United States (including its territories and possessions), any state of the United States and the District of Columbia (the “United States”) or any other jurisdiction where it is unlawful to do so. All persons residing outside of the United States who wish to access the IPO AV should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access the IPO AV or require registration or approval for any acquisition of securities by them. No part of the contents of the IPO AV shall be copied or duplicated in any form by any means or redistributed.
This IPO AV is posted solely to comply with Indian legal and regulatory requirements. The IPO AV does not constitute an offer to sell, or the solicitation of an offer to purchase or acquire, any securities of the Company in the United States or in any other jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable United States’ state securities laws. Accordingly, the Equity Shares are being offered and sold only (i) within India, to Indian institutional, non-institutional and retail investors in compliance with the SEBI ICDR Regulations, (ii) within the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act and referred to in the DRHP as “U.S. QIBs” and, for the avoidance of doubt, the term U.S. QIBs does not refer to a category of institutional investor defined under applicable Indian regulations and referred to in the DRHP as “QIBs”) in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act, and (iii) outside the United States to eligible investors in “offshore transactions” as defined in, and in reliance on, Regulation S under the U.S. Securities Act and, in each case, in compliance with the applicable laws of the jurisdiction where those offers and sales occur. No public offering of the Equity Shares or other securities is being made in the United States.
The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made, by persons in any such jurisdiction except in compliance with the applicable laws of such jurisdiction. Any person into whose possession the IPO AV comes is required to inform himself or herself about and to observe any such restrictions. Neither the Company nor any of its affiliates is soliciting any action based on the IPO AV. The IPO AV or any information contained on our website or in the IPO AV does not constitute, and should not be construed as, “general solicitation” or “general advertising” as defined under Regulation D of the U.S. Securities Act, or “directed selling efforts” under Regulation S.
The Company, Promoters, Selling Shareholder, Book Running Lead Managers and their respective affiliates, directors, officers, agents, representatives, advisers and employees do not accept any liability whatsoever, direct or indirect, that may arise from the use, interception and interpretation of the information contained in the IPO AV. The information in the IPO AV is as of the date thereof and neither the Company, the Promoter, the Book Running Lead Managers nor their respective affiliates, directors, officers, agents, representatives, advisers or employees are under any obligation to update or revise the IPO AV to reflect circumstances arising after the date thereof. You are reminded that documents transmitted in electronic form may be altered or changed during the process of transmission and consequently, neither the Company, the Promoter, the Book Running Lead Managers nor any of their respective affiliates, directors, officers, agents, representatives, advisers or employees accepts any liability or responsibility whatsoever in respect of alterations or changes which have taken place during the course of transmission of the IPO AV in electronic format.
Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see the section titled “Risk Factors” on page 37 of the DRHP. Potential investors should also refer to the red herring prospectus (the “Red Herring Prospectus”) which will be filed with the Registrar of Companies, Maharashtra at Mumbai (“RoC”) and SEBI in the future, including the section titled “Risk Factors”. Any decision on whether to invest in the equity shares described in the DRHP may only be made after a Red Herring Prospectus has been filed with the RoC and SEBI and must be made solely on the basis of the Red Herring Prospectus. The IPO AV provides only the salient features of the Offer and accordingly, potential investors should not rely on the IPO AV.
Investors are advised not to rely on any other document, content or information provided in respect to the Offer on the internet/ online websites/ social media platforms/ micro-blogging platforms and by influencers/ micro-influencers/ finfluencers since the same is not authorised/ approved/ commissioned/ paid by the Company or its Promoters/Selling Shareholders/ Directors/ KMPs or SMPs in any manner. Any such posts, including on social media platforms, may be illegal in certain jurisdictions and only certain categories of persons may be authorised to access such information. Such posts, including on social media platforms, do not constitute an offer or solicitation of an offer, or any advice or recommendation to purchase, sell or transact in any of the Company’s securities. Investors are advised to rely only on the information contained in the Red Herring Prospectus and the price band advertisement for making an investment decision.
You are accessing this website at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses. Neither the Company, the Promoters, the Selling Shareholders, the Book Running Lead Managers nor their respective affiliates, directors, officers, agents, representatives, advisers or employees will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or disruption of this website, or resulting from the act or omission of any other party involved in making this website or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of this website or the IPO AV.
Failure to comply with this disclaimer may result in a violation of the applicable laws of India and other jurisdictions. Any other information contained in, or that can be accessed via our website does not constitute a part of the IPO AV.
IF YOU ARE NOT PERMITTED TO VIEW THE MATERIALS ON THIS WEBSITE OR ARE IN ANY DOUBT AS TO WHETHER YOU ARE PERMITTED TO VIEW THESE MATERIALS, PLEASE EXIT THIS WEBPAGE.
To access this information, you must confirm, by pressing on the button marked “I Confirm”, that at the time of access, you are located in India. If you cannot make this confirmation, you must press the button marked “I Do Not Confirm”.
The documentation contained in these pages is posted solely to comply with Indian legal and regulatory requirements. Making the information contained herein available in electronic format does not constitute an offer to sell, the solicitation of an offer to buy, or a recommendation to buy or sell securities of the Company in the United States or in any other jurisdiction, including without limitation, India.