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Hero Future Energies and CleanMax are racing to file their draft papers for IPOs by next week.
What they do: Hero Future Energies builds and operates clean energy projects like wind farms, solar parks, battery storage, and green hydrogen.
CleanMax provides renewable power to over 500 commercial and industrial customers. It runs rooftop solar setups, wind farms, and hybrid plants across India, the Middle East, and Southeast Asia.
The deets: Hero Future Energies expects to raise around ₹4,000 crore, while CleanMax, backed by Brookfield, is eyeing for over ₹5,000 crore.
Zoom out: India’s clean energy sector is in the middle of a fundraising boom. Over ₹25,000 crore worth of IPOs are expected from renewable energy players in the next year. Solar and wind companies like Avaada, Emmvee, Vikram Solar, and NTPC Green have already hit the markets or are lining up offers.
