MUMBAI, Feb. 26 -- India's renewable energy deal pipeline has stalled as buyers and sellers remain locked in a stalemate over asset valuations, leaving several multi-billion-rupee transactions stuck in prolonged negotiations.

Market participants are now looking to the Rs.3,100 crore initial public offering (IPO) of CleanMax Enviro Energy Solutions Ltd to break the deadlock. Investor demand for the public market share sale of Clean Max is expected to help set a pricing benchmark for private market transactions in the sector, including platform sales, stake deals, and upcoming listings.

While the first half of 2025 saw some strategic platform acquisitions, these were largely private, with deal structures and valuation rationales not made ...