CleanMax Enviro Energy Solutions, the Brookfield Corp-backed renewable energy provider, has received approval from the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

The Mumbai-headquartered company had filed its draft red herring prospectus (DRHP) in August 2025 and has now begun investor roadshows. CleanMax plans to file its red herring prospectus (RHP) shortly.

The ₹5,200 crore IPO, with a face value of ₹1 per share, comprises a fresh issue of shares worth up to ₹1,500 crore and an offer-for-sale (OFS) of up to ₹3,700 crore by promoters and existing shareholders.

The OFS includes share sales of up to ₹321.37 crore by founder and MD Kuldeep Pratap Jain, ₹1,970.83 crore by BGTF One Holdings (DIFC) Ltd., ₹225.61 crore by KEMPINC LL

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