CAM, Khaitan, SAM act on Clean Max Enviro Energy IPO

Clean Max Enviro Energy Solutions Limited has concluded its Initial Public offering of equity shares which comprised of a fresh issue and an offer for sale by the Founder Promoters, BGTF One Holdings (DIFC) Limited (part of Brookfield group), Augment India I Holdings, LLC and DSDG HOLDING APS (an affiliate of IFU Denmark).

Cyril Amarchand Mangaldas advised Clean Max Enviro Energy, and Founder Promoters Kuldeep Jain and KEMPINC LLP on the IPO, as well as the primary/secondary pre-IPO placement by CleanMax aggregating to ~$500 million.

The transaction team was led by Yash J. Ashar (Senior Partner), Ravi Dubey (Partner, Regional Co-Head - Capital Markets - West) and Anshul Roy (Partner), with support from Tanushri More (Senior Associate), Sachin Santuka (Senior Associate), Associates Esha Gupta, Anomitra Debnath, Arjun Badola, Aditya Maheshwari and Akshita Dhawan.

Khaitan & Co advised the book running lead managers Axis Capital Limited, J.P. Morgan India Private Limited, BNP Paribas, HSBC Securities and Capital Markets (India) Private Limited, IIFL Capital Services Limited, Nomura Financial Advisory and Securities (India) Private Limited, BOB Capital Markets Limited and SBI Capital Markets Limited, on this IPO.

The transaction team consisted of Subhayu Sen (Partner), Aayush Mohata (Partner), Johann Valladares (Senior Associate), Sarjana Das (Senior Associate), Arjun Kapur (Associate), Ria Chaudhary (Associate), Srishti Jain (Associate), Dhananjay Sreeram (Associate) and Jalaj Bangar (Associate).

Shardul Amarchand Mangaldas & Co. advised Promoter Selling Shareholder Brookfield and Investor Selling Shareholders Augment Infrastructure, Steadview Capital and Bain Capital on the IPO as well as on certain related Pre-IPO transactions.

The SAM team advising Brookfield consisted of:

Nikhil Naredi (Partner), Krupa Brahmbhatt (Partner), Ankita Singh (Associate). (Capital Markets)

Jay Gandhi (Partner), Abhishek Parekh (Partner), Bharath Sridhar (Counsel), Samyukta Shetty (Senior Associate), Varshini Agarwalla (Associate) and Jay Sureka (Associate). (Corporate-related matters, including all pre-IPO transactions)

Manjari Tyagi (Partner), Deepika Goyal (Principal Associate), Roop Singh (Associate) and Kashvi Vachhani (Associate). (Securities & Regulatory)

The SAM team advising Augment Infrastructure consisted of:

Abhiroop Amitava Datta (Partner), Bhoomika Gupta (Associate). (Capital Markets)

V.R. Neelakantan (Partner), Samridha Neupane (Partner), Siddharth Jain (Senior Associate). (Corporate-related matters, including all pre-IPO transactions)

The SAM team advising Bain Capital consisted of:

Gunjan Shah (Partner), Nirmal Mahtani (Partner), Siddharth Damle (Principal Associate) and Oorja Chari (Associate).

Rohan Arora (Partner), Radhika Seth (Partner), Satvik Mohanty (Senior Associate).

Sayantan Dutta (Partner) advised on Capital Markets aspects.

Prashant Sirohi (Partner), Tinnish Sharma (Senior Associate) and Tanya Rathod (Associate). (Infrastructure)

The transaction team advising Steadview on legal and tax matters was led by Harshita Srivastava (Partner), along with Nimish Malpani (Principal Associate) and Palomita Sharma (Associate).

Clean Max Enviro Energy Solutions is a provider of renewable energy to commercial & industrial customers with 15 years of experience since its inception in 2010. It specializes in delivering decarbonization solutions, including supplying renewable- power and offering energy services and carbon credit solutions to customers.

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