Clean Max Enviro IPO GMP ₹-37 Today (16 Oct), Price Band, Subscription Status, Allotment Date

Clean Max Enviro IPO Review & Analysis

Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.

Clean Max Enviro is a mainboard issue raising ₹3100 Cr, offered in a band of ₹1000–₹1053 per share. At the upper end that is 1053 times the ₹1 face value, so ₹1052 of every share subscribed is share premium rather than capital.

A retail application for Clean Max Enviro needs one lot of 14 shares, which works out to ₹14,742 at the upper band of ₹1053. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application. Retail applications are capped at ₹2,00,000, which here is 13 lots; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 68 lots.

For Clean Max Enviro, bidding runs 23-25 February, allotment is finalised on 26 Feb 2026, the shares list on 02 March 2026. Applications that do not receive an allotment have their UPI mandate released around 1 day after the issue closes. Counting from the close of bidding, money stays blocked for roughly 5 days before listing decides what the holding is worth.

The issue is reserved 50% to qualified institutional buyers, 15% to non-institutional investors, 35% to retail. A 35% retail share is the wider end of the range, which improves the odds for small applications when the book is only modestly oversubscribed. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.

Subscription stands at 0.99x, which is below full. An issue must be subscribed at least once over to proceed at all; if it closes under that, the offer is withdrawn and all application money is refunded.

MUFG Intime India Pvt. Ltd. is the registrar for this issue, which means the allotment status for Clean Max Enviro is published on their portal from 26 Feb 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.

The figures above are worked out from the issue's own filed numbers and are for information only. They are not investment advice — read the RHP before you apply.