Clean Max Enviro Energy shares jump 7%; stock trades 27% above IPO price — What’s driving the rally? | Check key levels

Detailed summary

Clean Max Enviro Energy Solutions shares rose 7% to ₹1,342.20, about 27% above their IPO price. The gain followed strong September-quarter results, with net profit up 82.3%…

Clean Max Enviro Energy Solutions shares climbed 7% on Thursday, 12 November, amid a broadly positive trend in the Indian stock market. The stock was trading at ₹1,342.20, around 27% above its IPO price of ₹1,053. The company made its stock market debut on the BSE and NSE on 2 March 2026. The stock has gained 2.10% over the past week, 3.41% over two weeks, 0.48% over a month, and 6.55% over the past six months.

CleanMax reported a strong financial performance for the September quarter of FY27, with consolidated net profit rising 82.3% year-on-year to ₹64.9 crore, compared with ₹35.6 crore in the corresponding quarter last year.

The renewable energy company's total income increased 34.5% to ₹750.9 crore during the July–September period, up from ₹558.1 crore in Q2 FY26, according to its regulatory filing dated 4 November.

During the quarter, CleanMax also raised ₹2,500 crore through India's first green bond issuance in the commercial and industrial (C&I) renewable energy sector. The bonds carry fixed coupons and have tenors of up to 10 years. Leading development finance institutions anchored the issuance, with participation from banks, mutual funds and other institutional investors.

CleanMax operates as a pure-play C&I renewable energy company, catering to commercial and industrial customers. Its contracted renewable energy power sales portfolio stood at 6.3 GW as of 30 September 2026.

On 2 March, Clean Max Enviro Energy Solutions made a weak stock market debut, with its shares listing at a discount on both the NSE and BSE after its IPO received 94% subscription.

On the NSE, the shares opened at ₹960 apiece, down 8.83% from the issue price of ₹1,053. On the BSE, the stock debuted at ₹952, reflecting a 9.57% discount.

The company raised ₹3,100 crore through its IPO, priced in the range of ₹1,000–1,053 per share, and open for subscription from 23 February to 25.

Clean Max Enviro Energy Solutions share price today opened at an intraday low of ₹1,256.25 apiece on the BSE, the…

Opening of the article, excerpted from Mint. To read the rest, open the article on the publisher's site.