Clean Max Enviro IPO and Shree Ram Twistex IPO listing date has been scheduled for Monday, March 2. Clean Max Enviro IPO and Shree Ram Twistex IPO allotment was finalized yesterday (Thursday, February 26). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Friday, February 27. The process of refunding those who have not yet received their shares will likewise be finished today.
The commercial and industrial renewable energy provider company, Clean Max Enviro, launched its IPO for subscription from Monday, February 23 to Wednesday, February 25. By the conclusion of the bidding period, the offering received somewhat decent response, particularly from qualified institutional buyers (QIBs) who subscribed 2.83 times, followed by non institutional investors(NIIs) at 54%. Retail investors showed a subscription rate of 6%. Notably, on the third day of the IPO, the Clean Max Enviro IPO subscription status stood at 94%, as per BSE data.
The cotton yarn manufacturer company launched its IPO for subscription from Monday, February 23 to Wednesday, February 25. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed 220.30 times, followed by retail investors at 76.63 times. Qualified Institutional Buyers (QIBs) showed a subscription rate of 3.94 times. Notably, on the third day of the IPO, the Shree Ram Twistex IPO subscription status stood at 43.66 times, as reported by the BSE.
IPO market trend
Looking at the recent IPO performances, Mohit Gulati, CIO and managing partner of ITI Growth Opportunities Fund, said that recent IPO subscription numbers reflect both market turbulence and structural issues in how companies are coming to market.
Gulati highlighted that when 60-70% of an issue is an offer for sale, there is simply no growth capital being deployed; it’s an exit for early investors, not a value creation event for new ones. Retail participation has weakened considerably, and rightly so. In volatile conditions, weak hands step back, and the incentive to hunt for value diminishes.
What’s interesting is the quiet outperformance of low-subscription names like ICICI Prudential AMC — near-certain allotment, little fanfare, and a stock that has held its ground versus a host of other heavily oversubscribed, hyped names have corrected sharply with no institutional support to cushion the fall, according Gulati.
“This is classic retail behavior playing out in real time. The market is telling us something important: good businesses don’t need aggressive marketing to get listed. If the IPO pipeline continues to be dominated by OFS-heavy issues at stretched valuations, subscription fatigue will only deepen. Quality will find its buyers; just not at any price,” opined Gulati.
Let’s take a look at the gray market premium (GMP) trends for the upcoming IPOs:
Clean Max Enviro IPO GMP today
Clean Max Enviro IPO GMP is -14. Considering the upper end of the IPO price band and the current discount in the gray market, the estimated listing price of Clean Max Enviro shares is indicated as ₹1039 apiece, which is 1.33% lower than the IPO price of ₹1,053.
According to the gray market activities observed over the last 17 sessions, today’s IPO GMP indicates a trend towards a discount and anticipates a discount listing. The minimum GMP recorded is ₹-17.00, while the maximum GMP is ₹14, as stated by experts.
Clean Max Enviro Energy Solutions IPO price band has been fixed in the range of ₹1,000 to ₹1,053 per equity share of the face value of Re 1.
Clean Max Enviro IPO features new shares valued at ₹1,200 crore, accompanied by an offer for sale totaling ₹1,900 crores. The overall IPO size has been reduced from the previously intended ₹5,200 crore mentioned in the documents submitted last August.
The offer for sale involves prominent stakeholders such as promoter Kuldeep Jain, Brookfield’s BGTF One Holdings (DIFC), KEMPINC, and the investors Augment India I Holdings and DSDG Holding APS.
Shree Ram Twistex IPO GMP today
Shree Ram Twistex IPO GMP is ₹-20. Considering the upper end of the IPO price band and the current premium in the gray market, the estimated listing price of Shree Ram Twistex shares is indicated as ₹84 apiece, which is 19.23% higher than the IPO price of ₹104.
According to the past 15 sessions of gray market activities, the current IPO GMP indicates a trend toward a discount, suggesting a potential discount listing. The minimum GMP recorded is ₹-20.00, while the maximum GMP is ₹13.50, as per expert opinions.
Shree Ram Twistex IPO price band has been fixed at ₹95-104 per share.
Shree Ram Twistex aims to generate ₹110.24 crore through its IPO by issuing 1.06 crore new equity shares. The company plans to channel these proceeds into several key ventures. It will designate ₹39 crore for the development of a 4.2 MW wind power plant for its own use.
Additionally, ₹14.89 crore will be reserved for the repayment of certain debts, while ₹Rs 44 crore will be allocated to enhance its working capital. The remaining funds will be used for general corporate purposes.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
