Singapore's Temasek Holdings and the Abu Dhabi Investment Authority are set to anchor Clean Max Enviro Energy Solutions' $341 million IPO, according to Bloomberg. The Mumbai-based renewable energy company plans to raise 31 billion rupees, with anchor investors allocated shares worth approximately $102 million ahead of the subscription period.

Brookfield, one of the world's largest alternative asset managers, backs the business, making this offering a partial liquidity event. The IPO is expected to price at 1,053 rupees per share at the top of the marketed range. Clean Max also secured 15 billion rupees in a pre-IPO placement last week.

The offering will test sentiment in India's IPO market after two record years of issuance followed by slower momentum. It also aims to gauge investor appetite for renewable energy stocks following months of sector underperformance. For Temasek and ADIA, the cornerstone commitments reflect continued sovereign wealth interest in infrastructure-like renewable platforms with long-term contracted revenue profiles.