CleanMax Raises ₹2,500 Crore via India's First C&I Green Bond
CleanMax raised ₹2,500 crore through India's first green bond issuance for the C&I renewable sector. The NCDs have maturities from 2-10 years with fixed coupons of 8.25%-8.76%. The issuance attracted participation from IFC, NABFID, IIFCL, and other institutional investors.
The ₹2,500 crore green bond issuance is a substantial capital raise that will support the company's growth in the renewable energy sector. Being India's first such issuance for C&I renewable projects signifies a major achievement and potential for future funding.
The company successfully raised a significant amount of capital through a green bond issuance, marking a first for the C&I renewable sector in India. This indicates strong investor confidence and access to capital markets.
Clean Max Enviro Energy Solutions Limited has successfully raised ₹2,500 crore through green debt securities (NCDs) on a private placement basis. This issuance marks India's first green bond for the Commercial and Industrial (C&I) renewable sector.
The NCDs were structured across five series with maturities ranging from 2 to 10 years, offering fixed coupons between 8.25% and 8.76%. The issuance attracted significant participation from both international and domestic investors, including marquee institutions like IFC, NABFID, and IIFCL, as well as banks, NBFCs, and mutual funds.
This offering follows CleanMax's first CRISIL rating of 'AA/Stable' for both its corporate credit and NCD program, assigned in September 2026. The bonds are backed by a defined green-use-of-proceeds framework, intended for large-scale renewable energy projects, and have been reviewed for alignment with SEBI regulations and ICMA Green Bond Principles. Trust Investment Advisors Private Limited acted as the sole arranger for this issuance.
Kuldeep Jain, Founder and Managing Director, stated that the issuance channels institutional capital towards renewable energy and reflects investor confidence in CleanMax's fundamentals. Nikunj Ghodawat, CFO, highlighted the issuance's role in deepening access to the domestic bond market and securing long-term, fixed-rate funding.
What to do with a filing like this
Clean Max Enviro Energy Solutions Limited filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Clean Max Enviro Energy Solutions Limited. Read the original for the full detail.