Archive · 28 Sep 2026
CleanMax Raises ₹2,500 Crore Through Green NCDs
CleanMax raised ₹2,500 crore by selling special bonds called green NCDs.
These bonds are meant to help pay for large renewable energy projects.
Investors will receive fixed interest rates ranging from 8.25% to 8.76%.
The bonds will be repaid over periods ranging from two to 10 years.
Both Indian and international institutions invested in the issue.
IFC, NABFID and IIFCL were among the investors that anchored it.
Trust Investment Advisors Private Limited arranged the transaction.
CleanMax said its credit rating helped it obtain long-term funding at fixed rates.
The company also said the issue gives investors another way to participate in its growth.
CleanMax Enviro Energy raised ₹2,500 crore through rated, secured, listed and redeemable green NCDs via private placement.
The issuance comprised five series with maturities of two to 10 years and fixed coupons ranging from 8.25% to 8.76%.
Proceeds will fund large-scale renewable energy projects under CleanMax’s Green Bond Framework.
International and domestic investors, including IFC, NABFID and IIFCL, anchored the issue alongside other financial institutions and corporates.
CareEdgeAdvisory reviewed the framework, while CleanMax said its CRISIL AA/Stable rating supported fixed-rate funding over the 10-year tenor.
- Who
- CleanMax Enviro Energy, with participation from domestic and international institutional investors including the International Finance Corporation, NABFID and IIFCL.
- What
- The company raised ₹2,500 crore through five series of green, rated, secured, listed, redeemable non-convertible debentures.
- When
- The announcement was published on September 28, 2026.
- Where
- The issuance was conducted in India through a private placement in the debt capital market.
- Why
- The proceeds are intended for large-scale renewable energy projects, while the financing provides CleanMax with longer-term funding at fixed rates.
- Amount raised
- ₹2,500 crore
- Instrument
- Rated, secured, listed, redeemable green non-convertible debentures
- Issuance method
- Private placement
- Structure
- Five series with maturities of two to 10 years
- Coupon range
- Fixed rates of 8.25% to 8.76%
- Use of proceeds
- Large-scale renewable energy projects
- Credit rating
- CRISIL AA/Stable
- Sole arranger
- Trust Investment Advisors Private Limited
