CleanMax plans ₹5,000 crore IPO as Brookfield boosts stake
Business
CleanMax, a Mumbai-based renewable energy company, is gearing up for a ₹4,000-5,000 crore IPO and plans to file draft papers with SEBI by the end of August 2025.
The move aims to catch the wave of growing investor interest in green energy, with the company's valuation expected to hit $2.5-3 billion.
CleanMax's growth story and Brookfield's stake rise
CleanMax has boosted its capacity to 1.5GW as of September 2024 and is aiming for 5GW soon, helping India chase its big renewable goals.
Even though revenue dipped in FY24, profits actually went up to ₹282 crore.
Meanwhile, Brookfield increased its stake from 38% to 48%, showing real faith in CleanMax as it heads toward this major IPO milestone.
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