Clean Max Enviro Energy’s initial public offering allotment is expected to be finalised on Thursday following the close of the subscription period. The issue was subscribed 94 percent overall, reflecting limited aggregate demand.
According to data from the National Stock Exchange, the company offered 2.182 crore shares and received bids for 2.56 crore shares.
The qualified institutional buyers category was subscribed 2.83 times, indicating participation from institutional investors. The non-institutional investors portion was subscribed 54 percent. The retail investors quota was subscribed 6 percent.
After the allotment is finalised, investors can check their status online on the official website of the Bombay Stock Exchange by visiting the IPO application check page, selecting Equity under Issue Type, choosing Clean Max Enviro IPO under Issue Name, and entering either the Application Number or PAN details.
Allotment status can also be checked on the National Stock Exchange website and on the registrar MUFG Intime India’s website. On the registrar’s portal, investors can select the IPO under the Public Issues section and enter their PAN or Application Number to view the status.
The price band for the Clean Max Enviro IPO was fixed at Rs 1,000 to Rs 1,053 per share. According to sources tracking unofficial grey market activity, the unlisted shares were trading at around Rs 1,036 per share, which is about Rs 17 below the upper price band of Rs 1,053.
The overall subscription of 94 percent indicates that demand did not reach full subscription levels. Retail participation remained limited, while institutional participation was higher in comparison.
Clean Max Enviro Energy operates in the renewable energy sector.
