Brookfield-backed Cleanmax to submit £ 4,000-5,000 CR IPO via confidential route

Copyright © HT Digital Streams Limit all rights reserved. Cleanmax Enviro Energy Solutions delivers green energy to commercial and industrial (C&I) businesses, which refer to things such as factories, shopping malls, office parks, warehouses, etc. (Bloomberg) Summary The company, which is 48% owned by Canadian investors in Brookfield, is likely to go to the market by the end of August. Mumbai Main Quarted Cleanmax Enviro Energy Solutions Pvt. Ltd., a renewable energy company, looks at the confidential filing route for its initial public offering (IPO) of £ 4,000-5,000, and three people with knowledge of the development said on condition of anonymity. The company, which is 48% owned by Canadian private equity investor Brookfield, is likely to submit its draft questions to the market regulator Securities and Exchange Board of India (Sebi) by the end of August, these people said, adding that the idea is to use the growing investment interest in the renewable energy. “The company is looking for an IPO through the confidential route, given the sector’s sensitivity, and it wants to determine the regulator’s response to the sector,” said one of the above persons. The second person quoted above added that Cleanmax targets a valuation of about $ 2.5-3 billion. Brookfield, by his Brookfield Global Transition Fund (BGTF), in 2023 erected a 38% stake in Cleanmax Enviro Energy Solutions with an investment of $ 360 million. The fund then increased its shareholding from 38% from October 2023 to 48% from September 2024, an release of November 2024 by Care Ratings. Inquiries by e -mail to Brookfield and Cleanmax did not elicit any answer. The Economic Times reported in May that the company investment banks Axis Capital, BNP Paribas, IIFL Capital, HSBC, JP Morgan, SBI Caps and Nomura have appointed bankers for the IPO. Cleanmax Enviro Energy Solutions delivers green energy to commercial and industrial (C&I) businesses, which refer to things such as factories, shopping malls, office parks, warehouses, etc. The operational capacity rose from 1.3GW a year earlier to about 1.5 GW according to the release of the care. The group intends to introduce additional ~ 0.3GW assets by the end of the financial year 2025 (FY25) and add ~ 0.6-0.7 GW assets to its balance sheet annually, the rating release shows. The company is aimed at a capacity of 5 GW over four to five years. According to Care Ratings data, Cleanmax Enviro reported an income of £ 2,106.38 crore in FY24, compared to £ 2,776.02 crore in FY23. The net profit rose to £ 282.41 in FY24 from £ 131.98 in FY23. The company still has to submit its FY25 earnings. The customers contain companies such as HCL, Tesco, Shell, Adobe, JK Cement, Bajaj, Mahindra, Gabriel, Asahi, L&T, Magneti Marelli, Carlsberg, United Spirits, CPWD, Manipal University, Kajaria, Ge. Reddy, Dog Tree, Taj, Cargill, ITC, NTT, Grassim, Dog Tree, Taj, Cargill, ITC, NTT, Grasim Bombay, among others. According to the Ministry of New and Renewable Energy, India’s renewable energy market has a total installed capacity of approximately 220.1 GW from FY25. India set a renewable energy target of 500GW installed capacity from non-fossil fuel sources by 2030. Imarc Group, a market research business, expects the renewable market in India to reach $ 52.1 billion by 2033, with a compound annual growth rate (CAGR) of 8.1% during 2025-2033. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #Renewable Energy #ipo Read Next Story