Description
BSE circular detailing lock-in schedules for 117,079,174 equity shares of Clean Max Enviro Energy Solutions Limited following its IPO listing on February 26, 2026, with lock-in periods ranging from 30 days to 3 years.
Summary
Clean Max Enviro Energy Solutions Limited has disclosed lock-in details for its 117,079,174 equity shares following listing on BSE on February 26, 2026. The circular specifies which share tranches are subject to lock-in, the applicable lock-in periods (ranging from 30 days for anchor investors to 3 years for certain promoter/pre-IPO shareholders), and which shares are exempt from lock-in (IPO public allottees and ESOP holders).
Key Points
- Total equity shares covered: 117,079,174
- Listing date: February 26, 2026
- Anchor investor shares (8,746,437 total): 4,373,218 shares locked for 30 days (until March 27, 2026); 4,373,219 shares locked for 90 days (until May 26, 2026)
- AIF-held shares (4,368,471): locked until August 5, 2026, per SEBI ICDR Regulation 17(c)
- Several tranches locked until August 26, 2026; February 26, 2027; and February 26, 2029
- Shares not under lock-in: IPO public allottees and 1,391,900 ESOP shares held by eligible employees
- All shares are in demat form; distinctive numbers are indicative only
- Company Secretary and Compliance Officer: Ullash Parida (Membership No. F8689)
Regulatory Changes
No new regulatory changes introduced. This circular is a compliance disclosure under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, specifically Regulation 17(c), which mandates lock-in of AIF-held shares as of the Prospectus date (February 25, 2026).
Compliance Requirements
- The company has disclosed all lock-in details as required under SEBI ICDR Regulations
- Depositories and registrars must enforce lock-in restrictions on the specified share tranches
- Further details on lock-in are available on pages 148–152 of the Company’s Prospectus
- Annexure 1 provides AIF shareholder details; Annexure 2 provides ESOP beneficiary details
Important Dates
| Date | Event |
|---|---|
| February 25, 2026 | Prospectus date (reference date for lock-in determination) |
| February 26, 2026 | Listing date; lock-in period commencement |
| March 27, 2026 | Anchor investor lock-in expiry (first tranche: 4,373,218 shares) |
| May 26, 2026 | Anchor investor lock-in expiry (second tranche: 4,373,219 shares) |
| August 5, 2026 | AIF lock-in expiry (4,368,471 shares) |
| August 26, 2026 | Lock-in expiry for select tranches |
| February 26, 2027 | Lock-in expiry for select tranches |
| February 26, 2029 | Lock-in expiry for longest-duration tranches |
Impact Assessment
The staggered lock-in schedule means that a significant portion of total shares will remain restricted from trading for up to 3 years, limiting immediate selling pressure from promoters and pre-IPO investors. The earliest meaningful unlock occurs for anchor investors beginning March 27, 2026 (30 days post-listing). IPO public allottees and ESOP shares (approximately 14.9M + 1.4M shares) are freely tradable from listing. Investors should monitor unlock dates—particularly February 26, 2027 and February 26, 2029—as potential liquidity events that may exert downward price pressure.
Impact Justification
Routine post-IPO lock-in disclosure required by SEBI ICDR Regulations; affects a significant number of shares (117M+) with staggered lock-in periods impacting liquidity for up to 3 years, relevant to investors tracking free-float and insider sell-off timelines.