CleanMax plans to float an initial public offering of Rs 31 billion (Rs 31 bn) on February 23, a move that formalises earlier announcements.

The company has scheduled the opening of the offer for that date and indicated that allocation and allotment procedures will follow standard regulatory requirements.

The conversion from crore to billion has been applied for clarity in reporting and to align with common international notations. The announcement underscores a significant step in the company’s capital markets activity.

The IPO will provide an opportunity for public investors to acquire equity in the company and to participate in its future performance. Market intermediaries are expected to disseminate offer documents and subscription details to prospective bidders in the coming days.

Demand for new listings varies with market conditions and investor sentiment, and participants will assess the valuation and growth prospects presented in the offer documentation. The company’s move to list is likely to attract attention from both institutional and individual investors.

Regulatory clearance and compliance with disclosure norms will be prerequisites before any allotment is confirmed, and investors will have access to the prospectus that sets out financial information, risks and corporate strategy. The process will include book building or fixed price mechanisms as prescribed, and market participants will watch for subscription rates to gauge demand.

Brokers and advisory firms will comment on market reception and help clients with bidding strategies in line with allocation norms. The scheduled timing in late February places the transaction within a period of active market participation ahead of the fiscal year end.

Prospective buyers will evaluate the offering documents carefully and monitor allocation outcomes after subscription closes. The completion of the listing will mark an important phase in the company’s access to public capital markets.