25% stake in Clean Max Enviro Energy Solutions, through a block deal, according to reports. 8 crore, while the floor price has been set at Rs 1,250 per share, the reports said.

The offer may come at a discount of up to 10% to the current market price (CMP). 50% stake, in Clean Max Enviro Energy Solutions as of June 30, 2026.

05 on the BSE. The stock traded in the range of Rs 1,385 to Rs 1,475 during the session.

Brokerages on CleanMaxEarlier, on September 23, Wall Street major Macquarie initiated coverage on Clean Max Enviro Energy Solutions with an Outperform rating and a target price of Rs 1,700. Macquarie is the second brokerage to initiate coverage of the stock in two sessions, following JM Financial.

Macquarie expects CleanMax’s installed base to more than double to around 8 GW by FY29E. The brokerage sees repeat commercial and industrial (C&I) business and exposure to Data & AI transactions supporting growth and longer-term earnings upside in India’s underpenetrated C&I renewables market.

The brokerage estimates that C&I users account for more than 50% of electricity consumption, with two-thirds dependent on relatively expensive DISCOM supply. It expects renewable adoption in the segment to outpace demand growth as corporates look to lower costs, with potential savings of up to 35%, while also pursuing decarbonisation.

Macquarie views CleanMax as a corporate-energy platform rather than a conventional independent power producer (IPP), supported by around 600 customer relationships, multistate regulatory capabilities and integrated energy solutions. It said repeat C&I business provides steady growth, while Data & AI transactions, which account for around 42% of contracted capacity, offer longer-term upside.

Macquarie expects sustained customer savings compared with conventional power procurement to support capacity additions at a faster pace than the market expects. Its 25%-weighted bull case assumes annual additions of more than 2 GW and an EBITDA CAGR of 60% or more over FY26-29E.

The brokerage also flagged regulatory, execution and dilution risks.. The brokerage said CleanMax is well placed to capture the expansion of India’s corporate green-energy transition despite temporary headwinds from curtailment in CTU-connected projects.

JM Financial expects demand in the commercial and industrial (C&I) segment to remain robust, driven by rising electrification needs, increasing captive power demand amid utility power deficits and the rapid expansion of data centres. The brokerage said CleanMax’s leadership in the C&I market and strong customer stickiness position the company to capitalize on the expected growth in C&I power demand.