Clean Max Enviro Energy Solutions has raised Rs 921 crore from anchor investors ahead of its Rs 3,100 crore IPO, with global and domestic institutions including Temasek Holdings and SBI Life Insurance featuring prominently in the anchor book.

The company informed exchanges that it allotted 87,46,437 equity shares at Rs 1,053 per share to anchor investors on February 20. The anchor portion accounts for a significant chunk of the institutional interest ahead of the issue opening for public subscription on February 23.

Among the investors participating in the anchor round were Temasek Holdings, SBI Life Insurance, Nomura Asset Management, HDFC Mutual Fund, ADIA, Franklin Templeton Mutual Fund, Eastspring, SBI General Insurance, Premji Invest, 360 One Mutual Fund, Trust Group, BNP and Tata Investment Corporation, among others. Foreign institutional investors accounted for 32% of the anchor book, while domestic institutions made up 68%.

Out of the total anchor allocation, 45,91,720 shares were allotted to key investors, including Temasek Holdings, SBI Life, Nomura Asset Management, Eastspring, HDFC Mutual Fund, Franklin Templeton Mutual Fund, 360 One Mutual Fund, SBI General and ADIA. This tranche amounted to approximately Rs 483.51 crore, representing 52.5% of the total anchor book.

The anchor round follows a Rs 1,500 crore pre-IPO placement completed earlier this month. On February 6, CleanMax raised capital from investors including Temasek Holdings, Bain Capital, 360 One, Steinberg India Emerging Opportunities Fund, Steadview Capital and several family offices, including those of the Dalmia group, and the Jaisinghani and Taparia families.

Also read: Sebi approves 4 IPOs including Integris Medtech, Alpine Texworld and Anjali Labtech

The IPO comprises a fresh issue of Rs 1,200 crore and an offer for sale of Rs 1,900 crore. At the upper end of the price band of Rs 1,000 to Rs 1,053 per share, the total issue size stands at Rs 3,100 crore. The offer will close on February 25.
Axis Capital, JP Morgan India, BNP Paribas, HSBC Securities and Capital Markets (India), IIFL Capital Services, Nomura Financial Advisory and Securities (India), BOB Capital Markets and SBI Capital Markets are the book-running lead managers. MUFG Intime India is the registrar to the offer.
CleanMax is India’s largest commercial and industrial renewable energy provider, with 2.80 GW of operational, owned and managed capacity and 3.17 GW of contracted capacity under execution as of October 31, 2025, according to a CRISIL report.

Founded in 2010, the company focuses on delivering net-zero and decarbonisation solutions to corporates, including data centres, AI and technology companies, as well as infrastructure, cement, steel, FMCG, pharmaceuticals and real estate clients.

Its offerings span renewable power supply through long-term contracts, engineering, procurement and construction services, and operations and maintenance of solar, wind and hybrid plants, both onsite and at company-developed renewable farms. It also provides carbon credit solutions and turnkey decarbonisation services.

Also read: Rs 4,300 crore IPO rush next week: Clean Max, PNGS Reva among 9 public offers to hit the market

For FY25, CleanMax reported revenue from operations of Rs 1,496 crore, compared with Rs 1,390 crore in FY24, marking a year-on-year growth of 8%. EBITDA rose sharply to Rs 1,015 crore in FY25 from Rs 742 crore in the previous year, reflecting a 37% increase and indicating improved operating performance.

More than 3.3 million pounds of frozen chicken fried rice are being recalled after federal officials warned the products may contain glass.

Ajinomoto Foods North America is recalling approximately 3,370,530 pounds of frozen not-ready-to-eat chicken fried rice products that may be contaminated with glass, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced Friday.

The recall includes products sold at Trader Joe’s locations nationwide, while the Ajinomoto items were shipped only to Canada.

MULTISTATE OUTBREAK OF HIGHLY DRUG-RESISTANT SALMONELLA LINKED TO TRENDY ‘SUPERFOOD,’ FEDS WARN

The FSIS said it was recalling 20-oz. plastic bag packages containing Trader Joe’s frozen chicken fried rice with stir-fried rice, vegetables, seasoned dark chicken meat and eggs.

The Ajinomoto product is sold in a carton containing six bags of “Yakitori Chicken with Japanese-Style Fried Rice.”

All the chicken fried rice items were produced between Sept. 8, 2025, and Nov. 17, 2025, according to the FSIS.

SALMON SOLD AT BJ’S WHOLESALE CLUB RECALLED OVER POTENTIAL LISTERIA CONTAMINATION

Federal officials said the issue was discovered after FSIS received four consumer complaints tied to glass being found in the product.

FSIS said there have been no confirmed reports of injury due to consumption of this product.

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Officials said the product may still be in retailers’ and consumers’ freezers and urged consumers to throw the items away or return them to the store.

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Indian equities staged a technical rebound on Friday, recovering a portion of the previous session’s losses, but sentiment remained shaky with the US-Iran tensions looming over the markets. The rebound helped equities eke out gains for the week, even as the stock market’s fear gauge, Volatility Index (VIX), resumed its climb, rising 6.7% on Friday to 14.36 after jumping 10% the previous day.

On Friday, NSE’s Nifty rose 116 points or 0.5% to close at 25,571. BSE’s Sensex rose 316 points or 0.4% to end at 82,814. Both indices, which fell 1.4-1.5% the previous day, are up by as much as 0.4% for the week. “Escalating US-Iran tensions have disrupted market patterns as uncertainty is weighing on investor sentiment,” said Shrikant Chouhan, head of equity research, Kotak Securities.

Brent April crude futures held above the $71 mark on Friday evening, as fears of a potential US military strike on Iran drove prices higher. The latest fillip for oil prices came after US President Donald Trump said the world will find out over the next 10 days whether Washington will reach a deal with Iran or take military action. The two sparring countries have been in talks to resolve the nuclear dispute.

Elsewhere in Asia, Japan and Hong Kong fell 1.1% each, while South Korea gained 2.3%. China and Taiwan markets remained shut for the Lunar New Year. The pan-Europe index Stoxx 600 was up 0.5% at the time of going to print.

At home, the stock indices are stuck in a range, said analysts.

“Over the past three to four months, the Nifty has largely traded within a 1,000-point range, reflecting a phase of consolidation,” said Rohan Shah, technical analyst at Asit C Mehta Investment Intermediates. “Sellers emerge as the index approaches the 26,000 mark, while buying interest is seen near 25,000.”
The broader market mirrored the cautious tone, with performance remaining a mixed bag. The Nifty Midcap 150 gained 0.5%, while the Nifty Small-cap 250 fell 0.2%. On the BSE, the breadth remained weak with 1,917 shares advancing against 2,265 declines.Despite the macro-heavy clouds, some fund managers see a silver lining in the valuation churn. Ketan Gujrathi, fund manager-Equity at Quantum AMC, said while delayed US rate cuts and higher crude prices remain hurdles, foreign Institutional Investors (FIIs) have subtly shifted their stance.

“FIIs have turned marginal buyers this month, moving from a bearish stance to a more neutral outlook,” Gujrathi said. Foreign portfolio investors net sold shares worth ‘935 crore. Domestic institutions were buyers to the tune of ‘2,637 crore. So far in February, overseas investors have remained net buyers worth ‘13,243 crore.

State Bank of India (SBI) is in talks with some Japanese lenders to partner with them for merger and acquisition (M&A) financing in light of the new norms in that regard, SBI chairman CS Setty told reporters on the sidelines of the Indian Banks’ Association (IBA) annual general meeting. The bank has a lending ceiling of ‘94,000 crore, according to the new rules, Setty said.

“We have been talking to Japanese banks mainly because they’ve been active in that.

But there’s no preference for anyone. Each transaction will bring a set of bankers together. It could be either a relationship, either at the acquisition company or at the target company. Many a time, the banks are identified based on who’s the acquirer, who’s the target,” Setty said, adding that India’s largest lender will soon get a board approval to form a policy on this. Final guidelines announced earlier this month allow Indian banks to finance up to 75% of an acquisition’s cost in any domesti M&A with a 3:1 debt-equity ratio.

Los Angeles Clippers forward John Collins exited Friday night’s matchup against the rival Los Angeles Lakers with a head injury after a hard fall late in the second quarter, leaving him bleeding and appearing concussed in a scary moment that halted play at Crypto.com Arena.

The incident occurred with about 18 seconds remaining in the first half. Clippers guard Bennedict Mathurin lobbed a pass toward Collins, who leaped for an alley-oop attempt. Lakers center Jaxson Hayes disrupted the play by undercutting Collins in mid-air, preventing a clean landing. Collins crashed to the hardwood, striking the left side of his head forcefully. Blood quickly became visible from the impact site as he lay on the court. Teammates Brook Lopez and assistant coach Jasen Powell helped Collins to his feet.

Despite initial insistence from officials that he attempt the resulting free throws, Collins was escorted to the locker room for evaluation, walking unsteadily. The Clippers later announced he was questionable to return, undergoing concussion protocol testing. He did not start the second half, with Bennedict Mathurin taking his spot in the lineup.

As of late Friday night, no official concussion diagnosis was confirmed, though the severity of the fall raised immediate concerns. Collins will likely face additional medical evaluations overnight and into Saturday to determine clearance for future games. The team has not released a timetable for his return, but head injuries typically trigger mandatory protocols that could sideline players for days or longer.

Prior to the injury, Collins contributed significantly in the first half. The 6-foot-9 power forward scored points efficiently, shooting 5-of-8 from the field including a running layup earlier in the quarter. He provided energy off the bench in what has been a resurgent season for the veteran, averaging around 14.2 points, 5.4 rebounds and solid efficiency since joining the Clippers’ rotation.

The Clippers trailed 72-65 at halftime following the incident, with the Lakers holding momentum in the crosstown rivalry game. Kawhi Leonard and other stars stepped up in Collins’ absence, but the loss of his interior presence and scoring punch tested the team’s depth. Los Angeles Clippers entered the contest at 27-28 overall, battling for positioning in a competitive Western Conference.

The play drew scrutiny on social media and broadcasts, with replays highlighting Hayes’ positioning. No flagrant foul was called on the sequence, though some analysts suggested it warranted review. Hayes, a physical defender, has been involved in similar contact plays this season without prior suspensions.

Collins, 28, has been a key piece for the Clippers this year following offseason moves that reshaped the roster. Trades sent Ivica Zubac elsewhere and shifted dynamics, increasing Collins’ role. He returned from a minor groin injury in mid-January and had been scoring in double figures consistently, shooting over 62% from the field in recent stretches. His athleticism and rebounding have bolstered a frontcourt featuring veterans like Brook Lopez and emerging talents.

This marks a setback for a player who has battled injuries throughout his career but showed durability this season. The Clippers’ medical staff will monitor closely, as repeated head impacts carry long-term risks under modern NBA protocols emphasizing player safety.

Fans and teammates expressed concern online. Posts circulated videos of the fall, with many wishing Collins a speedy recovery. “Prayers up for JC, that looked nasty,” one supporter wrote. The Clippers organization issued no further immediate statement beyond the questionable tag, focusing on game management.

The Lakers-Clippers rivalry remains intense, with both teams vying for playoff seeding in the West. Friday’s game featured stars like LeBron James (questionable entering with knee soreness) and Kawhi Leonard, adding stakes beyond the injury. However, Collins’ exit overshadowed much of the narrative in real time.

As evaluations continue, the Clippers face upcoming challenges without one of their reliable bigs. Potential increased minutes for Mathurin, Derrick Jones Jr. and others could test bench depth. Collins’ status will be updated Saturday or Sunday, with the league’s concussion protocol requiring symptom-free progression before clearance.

The incident serves as another reminder of the physical toll in the NBA, where high-flying plays can turn dangerous in an instant. For now, the focus remains on Collins’ health and a potential return when medically safe.

India’s primary market is set for a busy week ahead, with three mainboard IPOs collectively looking to raise Rs 4,063 crore. The line-up includes renewable energy player Clean Max Enviro Energy Solutions, jewellery retailer PNGS Reva Diamond Jewellery and engineering solutions provider Omnitech Engineering. Alongside them, multiple SME issues will also hit the market.

The combined mainboard and SME fundraising will be close to Rs 4,300 crore in the next week. This will test investor appetite at a time when markets remain selective and sector-specific.

Clean Max Enviro Energy Solutions IPO

The largest issue of the week is Clean Max Enviro Energy Solutions, which is aiming to raise Rs 3,100 crore through a combination of a Rs 1,200 crore fresh issue and a Rs 1,900 crore offer for sale. The IPO opens on February 23 and closes on February 25.The price band is set at Rs 1,000 to Rs 1,053 per share. Shares are scheduled to list on March 2 on the BSE and NSE. In the grey market, the GMP is muted at just close to 1% over the IPO price.

Clean Max is India’s largest commercial and industrial renewable energy provider as of March 2025, according to a CRISIL report. As of July 2025, it had 2.54 GW of operational, owned and managed capacity, along with 2.53 GW under execution.
The company sells renewable power under long-term power purchase agreements and energy attribute purchase agreements. It also provides EPC, operations and maintenance services, along with carbon credit solutions.
Financially, the company reported total income of Rs 1,610 crore in FY25 with profit after tax of Rs 19.43 crore. Axis Capital is the book running lead manager.
Also Read | Infosys-Anthropic deal sparks fresh debate: Is AI now an opportunity, not a threat, for Indian IT?

PNGS Reva Diamond Jewellery IPO

PNGS Reva Diamond Jewellery plans to raise Rs 380 crore through a fully fresh issue. The IPO opens on February 24 and closes on February 26. The price band has been fixed at Rs 367 to Rs 386 per share, with listing expected on March 4. The shares are commanding a moderate premium of 4% in the grey market.

The company operates under the brand “Reva” and offers diamond and precious stone jewellery set in gold and platinum. As of September 2025, it operated 34 stores across 25 cities in Maharashtra, Gujarat and Karnataka under FOCO, FOFO and COCO models.

For FY25, PNGS Reva reported total income of Rs 259.11 crore and profit after tax of Rs 59.47 crore. The IPO has a heavy institutional skew, with not less than 75% of the net issue reserved for QIBs. Smart Horizon Capital Advisors is the lead manager.

Omnitech Engineering IPO

Omnitech Engineering is looking to raise Rs 583 crore via a mix of Rs 418 crore fresh issue and Rs 165 crore offer for sale. The issue opens on February 25 and closes on February 27. The price band is Rs 216 to Rs 227 per share, with listing scheduled for March 5.

The company manufactures precision-engineered components and provides turnkey industrial automation and mechanical systems across sectors such as automotive, aerospace, pharmaceuticals and general manufacturing.

Omnitech operates three manufacturing facilities in Gujarat and had 1,807 permanent employees as of September 30, 2025. In FY25, the company reported total income of Rs 349.71 crore and profit after tax of Rs 43.87 crore.

Proceeds from the fresh issue will be used for debt repayment of Rs 50 crore, setting up new projects across two facilities, capital expenditure at an existing facility and general corporate purposes. Equirus Capital is the book running lead manager.

SME IPOs also lined up

Alongside the mainboard offerings, six SME IPOs are scheduled next week. Shree Ram Twistex is set to raise Rs 110.24 crore and will open between February 23 and February 25. Kiaasa Retail plans to raise Rs 69.72 crore on the BSE SME platform during the same window. Accord Transformer and Switchgear, with an issue size of Rs 25.59 crore, and Mobilise App Lab, aiming to raise Rs 20.10 crore, are also scheduled to open on February 23.

Striders Impex will open on February 26 to raise Rs 36.29 crore on NSE SME, while Yaap Digital is also expected to hit the SME platform.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)