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Time of India

Promoters of CleanMax raise Rs 400 crore in pre-IPO round

Mumbai: Promoters of the Brookfield Corp-backed renewable energy company, CleanMax , have raised ₹400 crore from 360 One Asset Management to increase shareholding in the company in a pre-IPO funding completed last month. Founder Kuldeep Jain will raise stake from 14% to 21%. The money raised at 13% interest for 3 years will be repaid from IPO proceeds, people familiar with matter said. "The promoter is looking to fortify his stake before the imminent listing, the DHRP of which is likely to be filed later this year," said a person. "The increase in stake through private transactions will ensure promoter stake remains around 15% even after a likely offer for sale in the IPO." A CleanMax spokesperson did not respond to an email seeking comment. A 360 One spokesperson said he had no comments to offer to ET's email query. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program ETMarkets WhatsApp channel )