CRISIL Rates CleanMax Corporate Credit and New NCD Issuance
What happened
CRISIL assigned a rating to CleanMax's corporate credit and its Non-Convertible Debenture (NCD) program in September 2026. CleanMax, India's largest renewable energy solutions provider for the commercial and industrial sector, successfully raised ₹2,500 crore through green debt securities on a private placement basis. The issuance was structured across five series with maturities ranging from 2 to 10 years and coupons between 8.25% and 8.76%, attracting international and domestic investors. IFC, NABFID, and IIFCL anchored the issue, which was arranged by Trust Investment Advisors Private Limited.
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Why it matters
The rating provides market validation for CleanMax's business model and its ability to raise capital in the renewable energy sector. The successful issuance allows CleanMax to secure large-scale funding for its renewable energy projects under its Green Bond Framework.
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Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CLEANMAXSpeculative
CleanMax could secure massive capital funding and validate its creditworthiness through the successful issuance.
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The entities involved
Related events
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- CRISIL rated Non-Convertible Debentures (NCDs) for Edelweiss Financial Services, confirming compliance with SEBI regulations.
- CRISIL covers companies across India.
- CRISIL reaffirmed credit ratings for Nahar Spinning Mills Limited on August 27, 2026.
- CLEANMAX announces partnerships with STT GDC and is providing renewable energy services in both Tamil Nadu and Maharashtra.