Reportedly, CleanMax Enviro Energy Solutions Limited has listed at a discount to its issue price of Rs 1,053 per share on the National Stock Exchange and Bombay Stock Exchange following its Rs 31 billion initial public offering (IPO).
The IPO comprised a fresh issue of about Rs 12 billion and an offer for sale of about Rs 19 billion. The issue saw stronger participation from qualified institutional buyers than from retail and non-institutional investors, and the stock declined below the issue price during early trading on listing day.