CleanMax Board Okays Allotment Of NCDs Worth ₹2,500 Crore; Shares Down 0.22%

Mumbai, September 28: CleanMax Enviro Energy Solutions has approved the allotment of ₹2,500 crore worth of secured, rated, listed, redeemable and non-convertible debentures (NCDs) across five series, with the securities proposed to be listed on the BSE wholesale debt market.

CleanMax Allots ₹2,500 Crore NCDs Across Five Series

According to the exchange filing, the company’s board approved the allotment through a resolution passed by circulation on September 28, 2026. The NCDs have a face value of ₹1 lakh each and will be issued through private placement.

The five series comprise ₹200 crore in Series A, ₹400 crore in Series B, ₹807 crore in Series C, ₹615 crore in Series D and ₹478 crore in Series E. Together, the issue represents total consideration of ₹2,500 crore, excluding the applicable securities premium specified for certain series.

The NCDs are senior, secured, rated, listed, redeemable and non-convertible debt securities. CleanMax said the instruments are proposed to be listed on the Wholesale Debt Market segment of BSE.

Stock Market Snapshot

The CleanMax share price stood at ₹1,390.30 as of 2:45:01 PM IST on September 28, 2026, down ₹3.10 or 0.22% from the previous close.

The stock remained around the ₹1,390 level in the afternoon session after moving through a wider range earlier in the day.

The share price movement came as CleanMax disclosed the allotment of the ₹2,500 crore NCD issue.

NCDs Carry Tenures Of Up To 120 Months

The five NCD series have different maturity periods. Series A has a 24-month tenor, while Series B carries a 36-month tenor. Series C has a 60-month tenor.

Series D and Series E have longer tenures of 120 months each. The company said Series D will be amortised annually from the fifth year onwards, while Series E will follow annual amortisation from the sixth year onwards.

The coupon rates range from 8.485% to 8.765%. Series A carries an 8.250% coupon, Series B 8.485%, Series C 8.765%, Series D 8.765% and Series E 8.765%.

Interest will be paid quarterly, with redemption taking place on the respective maturity dates.

CleanMax NCDs Secured Against Project Assets And Other Security

The filing states that the NCDs are secured through a combination of security arrangements. These include charges over certain project assets of the issuer and specified special purpose vehicles, excluding land, along with other specified security interests.

The security package also includes charges over inter-corporate loans and advances, pledges or charges over shares or capital infused by the issuer in specified SPVs, charge over ISRA and escrow accounts, and other security specified in the transaction documents.

The company said the debentures will be redeemed at face value as per the redemption schedule set out in the offer documents.

Conclusion

CleanMax Enviro Energy Solutions has raised ₹2,500 crore through the allotment of secured NCDs across five series, with maturities ranging from 24 months to 120 months.

The company said the NCDs are proposed to be listed on BSE’s Wholesale Debt Market segment, with quarterly interest payments and security backed by specified project assets and other arrangements.

The CleanMax share price stood at ₹1,390.30 as of 2:45:01 PM IST on September 28, 2026, down ₹3.10 or 0.22% from the previous close.

Source:

• https://www.nseindia.com/get-quote/equity/CLEANMAX/Clean-Max-Enviro-Energy-Solutions-Limited
• https://nsearchives.nseindia.com/corporate/CLEANMAX_28092026142204_NCDFinal.pdf