CleanMax receives SEBI nod for IPO

CleanMax Enviro Energy Solutions has received approval from the Securities and Exchange Board of India (SEBI) to raise Rs 52 billion through an IPO. The IPO comprises a Rs 15 billion fresh issue and an OFS component of Rs 37 billion. Proceeds up to Rs 11.25 billion will be utilised for repayment of debt and general corporate purposes. The company may also consider a pre-IPO placement of up to Rs 3 billion.