ITV News
CleanMax MD wears 600 staff photos on suit for NSE debut
Kuldeep Jain turns listing day into tribute to team effort
MUMBAI: When Clean Max Enviro Energy Solutions rang the opening bell at the National Stock Exchange of India on Monday, the sharpest detail on the trading floor was not the ticker. It was the managing director’s jacket.
Founder Kuldeep Jain arrived at the listing ceremony in a custom-tailored navy blazer that, at first glance, looked impeccably conventional. A closer look told a different story. The fabric was printed with 600 tiny photographs, each one a portrait of an employee. From boardroom executives to field technicians, every member of the workforce was stitched into the moment.
The gesture turned the usual IPO spotlight on its head. Rather than centre the narrative on leadership, Jain chose to make the debut a tribute to collective effort. CleanMax has scaled up to a renewable energy portfolio of 2.54 GW, supplying solar and wind power to industrial clients and data centres across India.
On paper, the listing carried weight. The issue size stood at Rs 3,100 crore, with shares offered in the Rs 1,000 to Rs 1,053 range. The company’s model focuses on enabling corporations to access renewable power without owning the infrastructure outright, allowing them to pay for the electricity they consume rather than the solar panels themselves.
Jain, a former partner at McKinsey, founded CleanMax in 2011 and has since helped pioneer this pay-per-use renewable model in India. Although the shares debuted at Rs 960, it was the founder’s wearable roll call that captured the morning’s attention.
In a sector often defined by megawatts and margins, the message was stitched in plain sight. Behind every green kilowatt is a human story.
ITV News
Marico hands Pawan Agrawal charge of international business alongside CFO role
The consumer goods company restructures its global operations, with two regional heads now reporting to Agrawal and losing senior management personnel status from April 1st
MUMBAI: Marico Limited has given its group chief financial officer a bigger brief. The consumer goods company has elevated Pawan Agrawal to the dual role of group CFO and chief executive officer of its international business, effective April 1st, 2026, the company disclosed in an exchange filing on Wednesday.
The expanded mandate puts Agrawal in charge of Marico’s global operations across all markets, adding to his existing oversight of the company’s international business in Southeast Asia and Bangladesh. Two regional heads will now report directly to him: Binjit Kadakapcedlikayal, executive vice president for the Middle East and North Africa, and Ryan Bartram, managing director of Marico South Africa. As a result of the restructuring, both executives will cease to be classified as senior management personnel from April 1st, 2026.
Agrawal is no newcomer to the Marico story. He joined the company in 2004 and has spent over 25 years building expertise across financial planning and analysis, corporate finance, treasury, investor relations, taxation and governance. He has been a central figure in Marico’s push into digital-first brands, with acquisitions including Beardo, Just Herbs, True Elements, Plix, 4700BC and Cosmix all bearing his fingerprints.
Before Marico, Agrawal spent four years at Eveready Industries. A chartered accountant, he holds a B.Com (Hons) degree from St. Xavier’s College, Kolkata, and was named CFO of the Year in the consumer sector at the CII CFO Excellence Awards 2023-24.
Twenty-five years in the making. Marico has clearly decided Agrawal has earned the keys to the world.
