Clean Max Enviro Energy Solutions Ltd, the country's largest commercial and industrial (C&I) renewable energy provider, has received final approval from the Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO) worth Rs 5,200 crore.

The IPO, with a face value of Re 1 per share, comprises a fresh issue of up to Rs 1,500 crore and an offer for sale (OFS) of up to Rs 3,700 crore by promoters and existing shareholders. The offer includes a reservation for eligible employees, with a discount offered to them. Advertisement

Under the OFS, promoter Kuldeep Pratap Jain will sell shares worth up to Rs 321.37 crore, BGTF One Holdings (DIFC) Ltd Rs 1,970.83 crore, KEMPINC LLP Rs 225.61 crore, Augment India I Holdings LLC Rs 991.94 crore and DSDG Holdings APS Rs 1

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