Clean Max's Rs 3K-cr IPO subscribed 45% on day 2

New Delhi: The initial public offering (IPO) of Clean Max Enviro Energy Solutions, a commercial and industrial renewable energy provider, received 45 per cent subscription on the second day of share sale on Tuesday. The company's IPO got bids for more than 97 lakh (97,59,106) shares against over 218 lakh (2,18,23,329) shares on offer, according to the NSE data. The qualified institutional buyers' category was subscribed 1.21 times, while the quota for non-institutional investors was booked 41 per cent. Retail Individual Investors part fetched a 4 per cent subscription. Clean Max Enviro Energy Solutions raised Rs 921 crore from anchor investors on Friday. The public issue will close on February 25. The company has fixed a price band of Rs 1,000-1,053 per share, valuing it at Rs 12,325 crore at the upper end. The proposed issue comprises a fresh issue of shares worth up to Rs 1,200 crore and an offer-for-sale (OFS) of shares valued at Rs 1,900 crore by promoters and an investor shareholder.