Description
BSE circular detailing the allocation of 8,746,437 equity shares to anchor investors at ₹1,053 per share for the initial public offering of Clean Max Enviro Energy Solutions Limited.
Summary
Clean Max Enviro Energy Solutions Limited has finalized the allocation of 8,746,437 equity shares (face value ₹1 each) to anchor investors at an Anchor Investor Allocation Price of ₹1,053.00 per share (including share premium of ₹1,052.00 per share). The allocation was approved by the Board of Directors on February 20, 2026, in consultation with eight Book Running Lead Managers (BRLMs).
Key Points
- Anchor Investor Allocation Price: ₹1,053.00 per equity share (share premium: ₹1,052.00)
- Total shares allocated to anchor investors: 8,746,437 equity shares
- BRLMs: Axis Capital Limited, J.P. Morgan India Private Limited, BNP Paribas, HSBC Securities and Capital Markets (India) Private Limited, IIFL Capital Services Limited, Nomura Financial Advisory and Securities (India) Private Limited, BOB Capital Markets Limited, and SBI Capital Markets Limited
- Anchor investors span domestic mutual funds, life insurers, and foreign portfolio investors
- Largest individual allocations went to ZULIA INVESTMENTS PTE. LTD., SBI LIFE INSURANCE CO. LTD, and NOMURA INDIA INVESTMENT FUND MOTHER FUND (7.2% each, 631,540 shares each)
Anchor Investor Allocations
| Investor | Shares Allocated | % of Anchor Portion | Amount (₹) |
|---|---|---|---|
| ZULIA INVESTMENTS PTE. LTD. | 631,540 | 7.2% | 665,011,620 |
| SBI LIFE INSURANCE CO. LTD | 631,540 | 7.2% | 665,011,620 |
| HDFC MF - HDFC BUSINESS CYCLE FUND | 474,838 | 5.4% | 500,004,414 |
| NOMURA INDIA INVESTMENT FUND MOTHER FUND | 631,540 | 7.2% | 665,011,620 |
| PRUDENTIAL HK LTD - PHKL ASIA PACIFIC ACTIVE GROWTH | 395,640 | 4.5% | 416,608,920 |
| EASTSPRING INVESTMENTS - ASIA OPPORTUNITIES EQUITY FUND | 235,900 | 2.7% | 248,402,700 |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 7 | 237,398 | 2.7% | 249,980,094 |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 8 | 213,668 | 2.4% | 224,992,404 |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 9 | 83,118 | 1.0% | 87,523,254 |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 10 | 59,360 | 0.7% | 62,506,080 |
| FRANKLIN INDIA LARGE & MID CAP FUND | 474,838 | 5.4% | 500,004,414 |
| PIONEER INVESTMENT FUND SCHEME II | 593,558 | 6.8% | 625,016,574 |
| PGIM INDIA TRUSTEES - PGIM INDIA FLEXI CAP FUND | 170,954 | 2.0% | 180,014,562 |
| PGIM INDIA TRUSTEE - PGIM INDIA SMALL CAP FUND | 164,304 | 1.9% | 173,012,112 |
| PGIM INDIA TRUSTEES - PGIM INDIA ELSS TAX SAVER FUND | 71,218 | 0.8% | 74,992,554 |
| PGIM INDIA TRUSTEE - PGIM INDIA MULTI CAP FUND | 38,934 | 0.4% | 40,997,502 |
| PGIM INDIA TRUSTEES - PGIM INDIA AGGRESSIVE HYBRID EQUITY FUND | 19,936 | 0.2% | 20,992,608 |
| PGIM INDIA TRUSTEE - PGIM INDIA RETIREMENT FUND | 9,492 | 0.1% | 9,995,076 |
| MALABAR INDIA FUND LIMITED | 284,914 | 3.3% | 299,994,942 |
| INDIAFIRST LIFE INSURANCE CO. | (partial data) | — | — |
Regulatory Changes
No regulatory changes introduced. This circular is a disclosure filing pursuant to SEBI ICDR Regulations governing anchor investor allocations in public issues.
Compliance Requirements
- The Company and BRLMs are required to disclose anchor investor allocation details to stock exchanges (BSE and NSE) prior to the IPO subscription opening
- Anchor investors are subject to a lock-in period of 30 days from the date of allotment for 50% of shares, and 90 days for the remaining 50%, as per SEBI ICDR Regulations
- Exchanges must update their systems to reflect the anchor investor allocation at ₹1,053 per share
Important Dates
- Board Meeting / Anchor Allocation Date: February 20, 2026
- IPO subscription dates not specified in this circular; refer to the Red Herring Prospectus
Impact Assessment
The successful anchor investor allocation at ₹1,053 per share demonstrates strong institutional confidence in Clean Max Enviro Energy Solutions Limited. The participation of marquee investors including SBI Life Insurance, HDFC Mutual Fund, Franklin Templeton, PGIM India, Nomura, and foreign funds (Zulia Investments, Eastspring, Prudential HK) signals high institutional demand. The IPO is supported by eight BRLMs — a notably large syndicate — indicating the scale of the offering. The aggregate anchor allocation of approximately ₹9.2 billion sets a firm price benchmark for the public issue and is likely to support positive retail and HNI subscription sentiment.
Impact Justification
Large-scale IPO anchor allocation involving ₹9.2B+ in total value across 23+ institutional investors; signals strong institutional appetite and sets price discovery for the broader public issue.